At HSBC brown-nosing goes a long way

HSBC does not seem happy in the United States nor in the United Kingdom. Financial markets and customer debt are under pressure, while repossessions and foreclosures are at an all-time high. HSBC once bragged of making profits in emerging markets. Perhaps that will change as well. ‘Amid signs of trouble in emerging economies like Argentina …

HSBC’s Tom Detelich and MMI PHASES raises questions

HSBC is donating (if that is the right word) money to help with foreclosure prevention. We view this announcement with reservation, since foreclosures and lack of response by HSBC are still reported by homeowners. However, Money Management International (MMI), a nonprofit credit and debt counseling and education agency, today announced the official launch of their …

Presenting Household International as HSBC Consumer Lending

HSBC Finance recently cut 214 jobs in Franklin Park and Elmhurst as its consumer lending unit moved its records administration duties from Illinois to Buffalo. About a third of the affected workers have been placed in alternative positions within HSBC, a spokeswoman said. As for HSBC’s credit card business, according to CBS News, HSBC (HBC) …

HSBC Consumer Lending is largest subprime lender in America

Did you think HSBC Finance was gone, or exited the subprime market? HSBC has been quiet, but HSBC Finance is not gone. They are called HSBC Consumer Lending and they are still in Prospect Heights Illinois. As for subprime, according to National Mortgage News, in the second quarter of 2008 HSBC Consumer Lending was the …

HSBC Will Not Attract Wealthy In Japan

HSBC plans to open branches for the wealthy in Japan. One Google search by intelligent wealthy Japanese will foul HSBC plans instead. “This is another case of HSBC ignoring Household International and HSBC Finance Corporation” said one analyst close to the matter. “Wealthy Japanese customers rely on trust and reputation, but as the subprime mess …