What is the relationship between HSBC and their regulator, The Office of the Comptroller of the Currency? Keep in mind that HSBC spends millions on lobbying and has hired former OCC executives in the past. Here is an example of that relationship.
This is part of a public records document written September 29, 2006 […]
A person who communicates with us quite often sent this latest update concerning his battle with HSBC: “In my on going battle against HSBC it seems it is beginning to heat up. The government works slowly but sometimes it works.
Please be advised that today April 22nd, 2008, I did receive a letter from the […]
The following information pertains to the right to recind an agreement between HSBC and a customer. It is quite lengthy, but very interesting. The information comes from the FTC and OCC, respectively, according to the submitter. Case law is included:
I. TILA & Res Judicata
(Analogous to Mr. Curtis xxxxxx , […]
This is a classic example of how the subprime mess spun out of control. It is a classic example of how state regulators are continually frustrated by federal regulators and their desire to overrule state-level laws. Anyone who thinks they can get results from a local Better Business Bureau, when federal and state […]
Financial services companies globally have had more than $195 billion in asset writedowns and credit losses this year stemming from the collapse of the U.S. subprime mortgage market. Merrill Lynch’s $24.5 billion of subprime-mortgage-related writedowns and losses are the highest of any bank or securities house, according to data compiled by Bloomberg. Losses may […]
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 […]
The U.S. division of HSBC Holdings PLC won federal approval to open a new bank branch, the Treasury Department’s Office of the Comptroller of the Currency said. The OCC said in a weekly bulletin of regulatory activity, released Wednesday, that HSBC National Bank USA’s request was approved July 10. The new branch will […]
Like rats from a sinking ship the news was again bad for HSBC today. Federal and state banking regulators on Tuesday said they would step up their scrutiny of lenders that make home loans to people with shaky credit, focusing on companies that operate outside federal banking oversight. That means focusing on HSBC […]
A promotion in February and dismissed by July is sad news for David Gibbons of HSBC. One must ask if Gibbons was hired for his connections with the OCC, a bank regulator, or his ability. One thing is for sure - Gibbons did not see the risk at HSBC Finance, formerly known as […]
WASHINGTON - Bank regulators issued new standards for subprime mortgage lending on Friday that includes several new consumer protections. Subprime borrowers should not be penalized for refinancing out of a mortgage before the interest rate resets to a higher level, according to a statement of principles issued by the regulators. The guidelines also […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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