Household HSBC Watch

Standard Chartered bank delivered a sparkling first six months, raising profits before tax by 32 percent. Increasing costs were all but totally offset by an increase in income, driven mostly by Standard Chartered’s wholesale-banking business. It is a far cry from the 29 percent tumble in earnings reported Monday by rival HSBC. HSBC policy […]

China’s anxiety about the flow of money into its bubbling stock markets prompted the Government to punish 29 international and domestic banks this week, including HSBC and Standard Chartered, for failing to halt speculative capital inflows.

The State Administration of Foreign Exchange (Safe) said that it had disciplined 19 domestic banks and ten foreign lenders […]

How long before HSBC employs a cohort of burly bailiffs to chase up debtors? Bad loans hang around the neck of the world’s third-largest bank like an albatross. Most of it comes from former predatory lender Household International which is still in business as HSBC Finance Corporation. And HSBC is buying more […]

HSBC USA has established a second nationally chartered bank, based in Maryland, to make it easier for the British-owned bank to expand its U.S. branch network. The new HSBC National Bank USA is a sister to Delaware-based HSBC Bank USA, which now operates all but one of HSBC’s U.S. branches, including all of […]

Three years after passing a law intended to curb predatory mortgage lending, the Kentucky General Assembly effectively undid that law yesterday. But legislators disagreed — as do bankers and consumer advocates — on whether the latest action will harm borrowers. The House of Representatives voted 79-16 to enact Senate Bill 45, […]

HSBC lines up deal to buy control of Iraqi bank
This is part of press release by VICTORIA THOMSON ( see original )

HSBC Holdings is close to securing a deal to buy a 70 per cent stake in Iraq’s Dar Es Salaam Investment Bank in a bid to expand into Iraq as it rebuilds […]

August 8, 2005 - New York Attorney General Eliot Spitzer sought dismissal of a case brought by a banking regulator, saying it attempts to strip states of their power to probe mortgage-lending practices at national banks. The U.S. Office of the Comptroller of the Currency, which regulates national banks, sued Spitzer’s office for seeking […]

Mon Jun 20, 2005 06:48 PM ET
NEW YORK (Reuters) - A federal judge refused on Monday to grant a temporary restraining order that would have stopped New York Attorney General Eliot Spitzer from investigating large U.S. banks for their lending practices to minorities.
The order was sought by The Clearing House Association of 11 banks and […]

ICP has raised to the federal Office of the Comptroller of the Currency the fact that the mortgage lending data filed by HSBC for its ex-Household units HFC, Beneficial and Decision One, all point to the OCC as the regulator of these companies. Each has been state-regulated; HFC and Beneficial are subject to a […]

Tue May 17, 2005 - Global bank HSBC Holdings said on Tuesday it was in talks to buy a majority stake in Dar Es Salaam Investment Bank of Iraq as part of a plan to expand in the country as it rebuilds after war. The now disbanded U.S.-led occupation authority gave HSBC, […]