AN open letter to HSBC's Alex Hungate

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC …

Credit card asset backed securities examined

Recent problems in the subprime sector spread around the world very quickly. Then the problems spread to Alt-A mortgages. Cash strapped borrowers with second mortgages and adjustable rate mortgages caught the attention of the world. By the morning of August 9, 2007, something else caught the attention of investors around the world. Questioning whether people …

Shareholders, Others, Poised to Sue Over Subprime Losses

When HSBC lost money due to HSBC Finance the bank worked very hard to turn a profit elsewhere. Developing nations held the wolves at bay as those opposed to HSBC’s Household International remain posed to file suit if the bank turned shareholder profits into a loss. Others may still file suit claiming $10.6 billion is …

HFC and Beneficial Finance – Name Liability

As the subprime market declines and loan losses mount, third parrty mortgage brokers are having a tough time of it. Like many realtors, mortgage brokers are unemployed but don’t know it yet. Fired by companies that once funded them, mortgage brokers are casualties of risk management. Lenders like HSBC and Wells Fargo can control risk …

Sri Lanka Treats HSBC Cardholders Better Than U.S. Cardholders

In Sri Lanka HSBC credit card customers are far ahead of those in the United States. When one reads our “Live Complaints” section you see that Americans who have store credit cards cannot pay their bill at the store. A store credit card is, for instance, a Best Buy or Menards or Costco credit card. …