HSBC Finance Drags Down HSBC USA, Credit Card Business Questioned

HSBC USA thought it was a great idea to refinance or finance debt from Household International. Now called HSBC Finance Corporation, it was not a great idea after all. Since HSBC USA and HSBC Finance Corporation share the debts the not-so-rosy picture effects both, and greatly impacts HSBC overall. Net income for the HSBC North …

HSBC Management Credibility Damaged, No Insurance Deal

HSBC has big ambitions to expand into insurance, but after the American sub-prime mortgage fiasco, management’s credibility is still too damaged to attempt a major deal. Eventually there might be such a moment.  HSBC is set to repeat insurance problems which skyrocketed Household International to the top of predatory lending scrutiny. In addition to insurance …

Aldinger Era Execs Fired As Problems Mount

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 …