Household HSBC Watch

Neiman Marcus is facing off with HSBC Finance - formerly known as predatory lender Household International. What do Neiman Marcus customers have in common with subprime, predatory lending, and late application of payments? Absolutely nothing, but Neiman Marcus selected HSBC Finance as their private label credit card processor. We questioned the move […]

This week HSBC will focus on India. It seems as if HSBC is all over the map with ideas. One fact that is perfectly clear is that HSBC is unhappy with U.S. mortgage lending. What makes the report about India so interesting is that last week HSBC discovered that people were […]

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 […]

July 24 — European stocks fell to a four-week low after disappointing earnings from the largest U.S. mortgage lender pushed financial shares lower and the U.K.’s worst floods in 60 years weighed on retailers. HSBC Holdings Plc, BNP Paribas SA and Axa SA paced declines by banks and insurers after Countrywide Financial […]

The following HSBC press release is somewhat deceiving. There is no HSBC Bank in Prospect Heights Illinois. Prospect Heights is home to HSBC Finance Corporation, formerly known as predatory lender Household International. Perhaps Mr. Bruce J. Hammersley and Civis Financial Group would like you to think otherwise, judging by the press […]

In spite of over a decade of complaints, charges of predatory lending, and lawsuits, Lumber Liquidators signed a credit card deal with HSBC Finance Corporation. For many companies and their investors a decision to sign with HSBC is a sign of a troubled company. Time will tell, but many sign with HSBC to […]

See the latest about Bobby and TransUnion

When William F. Aldinger sold his scandal plagued predatory lending company, then called Household International, to HSBC Bank plc he knew he had to profit personally before the sham fell apart. An opportunist who profitted from running scams on borrowers, Aldinger’s departure left room for promotions in the […]

Combined third-quarter profits for HSBC USA and HSBC Finance Corp. fell 15.5 percent, as a tight profit margin, lower banking fees, higher operating expenses and higher loan losses offset growth in the company’s bank branch network, commercial lending, retail mortgage and credit card divisions.
The two U.S. units of HSBC Holdings Plc reported total profit before […]

Sep 21, 2006 — Less than a year after launching its Australian in-store finance business, HSBC Holdings has won a major contract. UK-based HSBC has unseated US rival GE Money from its seat as the sole consumer financing provider for the National Associated Retail Traders of Australia. The contract will give HSBC a monopoly […]

HSBC is expected this week to unveil plans to boost its presence on the Japanese market, including corporate lending and retail banking, the Times reported on Wednesday. Japan is the only major Asian financial centre where HSBC does not have a significant business presence.

According to consumer advocates in the United States HSBC exports […]