HSBC said the bank would export the business model of Household International, purchased by HSBC in 2003. As disturbing as it sounds, HSBC bragged about exporting the so-called “Household Model” even though history will show the model as a predatory lender. Subprime losses in the billions of dollars showed a failure. Pragati […]
Adjustable rates will reset this summer and fall. The timing reflects the height of subprime lending in the summers of 2005 and 2006, when many borrowers secured loans scheduled to adjust in two or three years. For many, an adjustment means their interest rate will go up two to three percentage points. HSBC […]
It is Saturday night in the United States but Sunday in England and Sunday papers have been printed. It’s also one day closer in London until the day HSBC releases new numbers. London is bracing itself for more bad news on bad debts from HSBC when it announces its half-year results tomorrow, amid […]
This is from Fitch, on November 3: “Fitch Rates HSBC Automotive Trust 2005-3 [which] marks HSBC Automotive Finance Corp.’s (HAFC) 17th Fitch-rated securitization backed by retail loans to subprime borrowers… As of Oct. 23, 2005 (the cut-off date), the receivables consisted of $1.37 billion in loans to subprime borrowers with weighted average FICO scores of […]
In an article by Heather Tomlinson, on June 21, 2005, in The Guardian, she said “Lloyds TSB, the largest unsecured lender in the UK, yesterday warned of an increase in the number of customers facing repayment difficulties on credit cards and personal loans. It is the latest high street bank to warn that more […]
Trying to track down troubled predatory lender Household International? Former stock symbol HI? Need updates to the nationwide $484 million settlement? Updates on RICO charges against H&R Block and Household? Perhaps you are looking for Household Retail Services, HRS or HRSI?
The names have changed.
HSBC North America Holdings (formerly Household […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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