Household HSBC Watch

Worldwide operations of HSBC saved the bank from disaster. The disaster was HSBC Finance Corporation, formerly known as Household International. Granted we are not the first to report on this matter, but we wanted to sort through the data and updates first. For years we reported consumer complaints and noted trends throughout […]

Morgan Stanley cut its price target for HSBC Holdings plc shares traded in Hong Kong to HK$115 each from HK$131 on Thursday. Although HSBC would like everyone to believe U.S. subprime problems will not effect the overall bottom line apparently some analysts liken HSBC’s problems to what happened at Bear Sterns. The move […]

According to an article in the Huffington Post written by Steve Goldstein HSBC said it’s taking a $3.4 billion loan-impairment charge in its U.S. consumer finance business during the third quarter, which it said was $1.4 billion higher than would have been implied by extrapolating first-half trends. Of this increment, about $700 million of […]

Carrick MollenKamp of the Wall Street Journal follows HSBC closely. His recent article “HSBC a canary in US mortgage mine” appeared on 12 November. It is interesting to note that HSBC helped to start the entire worldwide credit crisis. “…HSBC said souring sub-prime-mortgage loans had forced the bank to add nearly $US2 […]

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC […]

The following evolved into a dedicated page. Read “The HSBC Killzone” to see how this evolved.

A question often asked by those harmed and hurt by HSBC is how they determine who to hurt financially. Early in the investigation one could not determine if people were targeted by their credit scores. Common sense […]

With only 194 votes so far, a disturbing trend can be seen. A full 78 percent rate their HSBC credit card as either “poor” or “totally unprofessional”. A Household - HSBC Watch poll simply asked people to rate their HSBC backed credit card. The poll is shown on each article and […]

This is an arrogant blow to some professionals.
LONDON: A section of HSBC’s employees in Sheffield are up in arms for being asked to train staff from India who would then take over their jobs, lending a new twist to outsourcing from Britain to India. The request to train the Indian staff has angered workers […]

Will HSBC buy Ameriquest? A good question promoted by a large number of people visiting Household - HSBC Watch wanting to know the answer. You can see our lengthy speculative report here.

On May 2, 2006, we saw an increase in search engine traffic but when we wrote our report there was nothing in […]

The Treasury Department this week launched the first meeting of the newly created Consumer Financial Protection Forum which was established to focus exclusively on financial consumer concerns and to provide a permanent forum for communication between federal and state regulators on these issues.

The Forum is chaired by the Treasury Department and participants include the federal […]