Is Household International for Sale Again?

Look for signs of consolidation and streamlining as HSBC possibly looks to clean up their United States image by unloading predatory lender Household International, now called HSBC Finance Corporation. The North American division accounted for almost two-thirds of HSBC’s $10.6 billion in loan-loss provisions for 2006. HSBC earned $4.7 billion before tax in North America …

HSBC Panama Upsets London Headquarters

A long list of troubles for HSBC Panama’s General Manager Joseph Salterio grew even longer when newspaper “La Estrella de Panama” recently published an article, “Tras la pista de la Romana, S.A.,” about how the assets of a family rice milling company were allegedly transferred into another company, defrauding the family co-owners. The complainant is …

HSBC Ranks Customers, Transfers Some Callers Abroad

Here is an interesting HSBC article from London: Britain’s biggest bank is diverting poorer customers to foreign call centres while more profitable clients are dealt with in the UK. HSBC has admitted filtering calls from its 8.5million customers with current accounts and transferring them after assessing factors such as monthly income and credit rating. The …

HSBC Issues Go Deeper Than Mortgages In US

Shares of HSBC Holdings have extended their four-month losing streak amid concern that a crisis in the U.S. mortgage industry will erode earnings this year. HSBC’s stock has fallen every month since November, when the bank — the largest in Europe — said bad debts in the United States were rising. The stock fell 0.7 …