Sub Prime Mortages put H&R Block in Hole

HSBC’s high interest tax loan partner H&R Block Inc. lost $156.5 million during its second quarter, nearly twice its loss from a year ago, primarily because of weaker results in its mortgage business. The Kansas City-based company said it continues to weigh a sale or spinoff of its Option One Mortgage business, which makes home …

Profits Fall at HSBC U.S. Units

Combined third-quarter profits for HSBC USA and HSBC Finance Corp. fell 15.5 percent, as a tight profit margin, lower banking fees, higher operating expenses and higher loan losses offset growth in the company’s bank branch network, commercial lending, retail mortgage and credit card divisions. The two U.S. units of HSBC Holdings Plc reported total profit …

HSBC's Storehouse and Rowe File Bankruptcy

Household – HSBC Watch consumer advocates said for years that a combination of high HSBC interest rates, questionable payment processing and troubled merchants is a bad combination for customers and credit card holders. Add Storehouse to HSBC’s list of merchants, also known as troubled companies that need every dime of ill-gotten gains ot stay in …