Short complaints

The Office of Fair Trading, which prosecutes financial crimes in the U.K., reached an agreement with HSBC Holdings Plc, Royal Bank of Scotland Group Plc and six other banks on overdraft fees, while earlier this month another watchdog said it would limit how banks sell some forms of payment insurance. The regulatory overhaul being crafted …

An Obituary for HSBC Consumer Finance

What happens when HSBC dives in to subprime, takes a huge multibillion dollar loss, turns tail and runs away from customers, and alienates as many US citizens as possible? Wells Fargo has become the largest Western bank when measured by its stock market value after it leapfrogged rivals HSBC and JP Morgan last year. I …

Greenpeace finds loophole in HSBC Green

Environmental charity Greenpeace has made claims that HSBC’s investment arm is sidestepping the bank’s environmental guidelines by holding shares in a company accused of destroying Indonesian forests and peatland. The Greenpeace campaign points to the bank’s Global Investment Funds 2009 annual report as evidence that its Global Climate Change Fund is investing heavily in Golden …

Alert for HSBC shareholders

HSBC’s shareholders should scrutinize the bank’s compensation plan before they vote on it, the Association of British Insurers said. The group, whose members own about 15 per cent of all British publicly traded companies, issued an ”amber alert” on the plan, which will be voted on at the London-based bank’s annual meeting on May 28. …