Household HSBC Watch

A former employee of HSBC in Florida sent us this opinion: “Ex-employee from HSBC, parent company of HFC/Beneficial collections team. First I would like to straighten some facts about prior to my bashing. This company is a pay for performance company and each employee has the bonus options. The better you […]

A tenacious reader of our website, and an angry mortgage customer of HSBC sent some good advice. This gentleman is a planner, and he organizes meetings to get the desired results. It is very true that HSBC Finance does not know where a telephone call is coming from. The HSBC guidebook says […]

It’s off to Africa today as HSBC continues to look for that magic formula that will generate profits. Eager to offset losses in the United States HSBC must find a formula to generate offsetting profits in developing nations. So today’s idea is to go to Africa. HSBC’s Sandy Flockhart said “”We […]

In a blow to HSBC efforts to expand investment banking, HSBC served as a trustee for the investment portion of the business from August 2003 to March 2005, when a federal court shut down Pension Fund at SEC’s behest. HSBC’s name and logo appeared throughout the firm’s marketing materials, which were not properly reviewed, the […]

As part of its continuing evaluation of risk, HSBC monitors activities relating to Cuba, Iran, Myanmar, North Korea, Sudan and Syria. HSBC’s business activities include correspondent banking services to banks located in some of these countries and private banking services for nationals of, and clients domiciled in, some of the above countries. The Group has […]

Beneficial National Bank is regulated by the OCC and owned by HSBC Bank Plc. Here is your April 2006 update. The attorneys will make millions and HSBC gets another stain on its reputation, but it’s doubtful that customers will even notice the opportunity to participate in this settlement.

CHICAGO — Plaintiff class representative Lynne […]

First Brazil, now Peru and Columbia for HSBC. UK banking giant HSBC is targeting Colombia as the next step in its acquisition-driven expansion campaign in Latin America, HSBC South America CEO Youssef Nasr said. “Of the countries in South America, Colombia would be the next logical one. We are actually in the process of […]

Early reports indicate the Kansas Attorney General’s office started an investigation into HSBC relative to a consumer’s complaint. The HSBC customer tried to get problems resolved in an intelligent way only to meet with denials and rude customer service representatives that claimed to be doing ‘all they could do.’ Documents received […]

Bloomberg News’ Vernon Silver said in June 2005 “From their offices atop Tehran’s 15-story Sayeh Tower, HSBC Holdings Plc bankers have helped lend more than $825 million to the Iranian government… HSBC, Europe’s biggest bank by market value, says it isn’t breaking the law and is merely trying to make money. “The job of HSBC […]

(Note: A November 2007 update to this article is here)

Typically with mergers and acquisitions a 10 percent layoff is seen across the board immediately. We haven’t seen it at Household - HSBC yet. But the acquisition is now complete, names have been changed and the predator has been digested by HSBC. […]