Household HSBC Watch

Many questions are unanswered at HSBC. Is there another round of job cuts at HFC and Beneficial? Will HSBC sell HSBC Auto? Are credit card losses increasing? How much is the fourth quarter write-down? How many subprime loans violated HOEPA? What are the legal ramifications? But the main […]

Global banking giant HSBC said Tuesday that it has sold some of its British credit card businesses to lender SAV Credit for about 385 million pounds (552 million euros, 796 million dollars). HSBC said in a statement that the units being sold are the Marbles and Beneficial divisions, which have about 338,000 accounts between […]

As Knight Vinke looks firmly at HSBC, and as HSBC announced they want to sell their Marbles credit card operation, one must wonder about the logic. As our friends at Mortgage Blues recently pointed out HSBC and others would certainly concentrate on credit card operations. Here is why:

With the subprime mortgage and home […]

This may also be part of HSBC’s repositioning, or perhaps a move to make Knight Vinke happy. Other analysts thought HSBC would keep their credit card operations while getting rid of predatory and subprime lending. Such lending is often equated with Household International, now called HSBC Finance Corp. An earlier press release […]

Marbles Loans, part of the same group as the marbles credit card, say this: “Before you apply for a loan, you’ll probably want to know a bit more about us. Well, HFC Bank plc are the people behind marbles loans.”

They also say they have the experience and expertise to ensure that you always get the […]

Referencing eLaw & Management of Wednesday, 29 September 2004, HSBC could face suits after disclosing customer loan data. The issue began with sub-prime subsidiary HFC, already famous for their Melissa Rutland-Drury actions and the root cause of a nationwide legal settlement in the United States.

Although Household HFC, aside from parent company HSBC, claims to […]