Household HSBC Watch

This is another update from our friend Curtis: “Please be advised of the following. I am currently involved in taking legal action against HSBC Mortgage Services Inc. in Brandon Florida.

My current mortgage was audited and found to be in violation of TILA, RESPA, HOPA and the Fair Trade Practices Act. The loan as […]

A group which included HSBC Finance Director Douglas Flint said every idea people have concerning the cause of the subprime mortgage crisis is worng. Oh really? It had nothing to do with lax lending standards and greedy mortgage broker? Not according to this group of financial wizards. Forget about CDO, CDS, […]

It reminds me of the old game we played when we were kids. The game where we had to pick out “the one that was different from all the others.” Banking industry leaders (their words, not mine) are calling for reforms. The proposals were put forward by a high-level group led by former […]

How was the subprime crisis facilitated by lack of regulatory action? This report speaks to the situation quite loudly:

A federal appeals court on Tuesday upheld a lower court’s 2005 decision that barred the New York attorney general’s office from subpoenaing documents and instituting enforcement actions against national banks as part of an investigation into […]

August 13, 2007 - The Securities and Exchange Commission declined to comment Friday on reports that it is checking top Wall Street investment banks’ books for hidden subprime losses. Robert Burson, an associate regional director in the SEC’s division of enforcement, was tight-lipped about reports that the commission will audit Wall Street banks, beginning […]

American states such as New York, Massachusetts and Ohio collectively will extend more than $500 million (£245 million) in bailouts to homeowners struggling to meet loan repayments in an attempt by officials to prevent worst-hit neighbourhoods from declining amid repossessions.

With more than 700,000 American households set to lose their home this year and growing […]

Among UK firms, HSBC states that in keeping with its longstanding policy it made no political contributions in 2005. HSBC, however, has inherited what is now the HSBC North America Political Action Committee (H-PAC) following its purchase of Household International.

H-PAC has contributed $1,833,526 to federal election campaigns and other PACs during the 2006 election […]

NEW YORK - A former HSBC Bank USA vice president pleaded guilty on Friday in Manhattan federal court to a conspiracy charge over his role in a $30 million telemarketing fraud targeting low-income people with poor credit histories, U.S. Attorney Michael Garcia said.

Raymond Payne, a 35-year-old Brooklyn, New York resident, admitted to one count of […]

NEW YORK, Aug 9 (Reuters) - A federal appeals court ruled that Bank of America Corp., HSBC Holdings Plc and Sterling Bancorp must defend against a lawsuit related to a lawyer’s Ponzi scheme that defrauded Orthodox Jews and others out of millions of dollars. A three-judge panel of the U.S. Second Circuit Court of […]

PHILADELPHIA - Delaware officials asked a federal appeals court Thursday to let them keep public records beyond the reach of nonresidents.

A New York consumer activist is fighting to learn details of the state’s $484 million settlement with a finance company over predatory lending. The finance company was Household International, now owned by HSBC and […]