Block, HSBC Settle Predatory Lending Suit

Chicago (Aug. 31, 2006) – Tax prep giant H&R Block Inc. announced that a federal judge has approved a $39-million settlement of a class-action lawsuit brought by customers over the company’s refund anticipation loans. A U.S. district court judge approved the settlement, the group’s third effort to reach a agreement in the suit, which has …

New HSBC Award Without Merit

HSBC Group is the overall winner of the first edition of the UK’s Financial Times Sustainable Banking Awards. The award, recognising the bank’s leadership in integrating social, environmental and business objectives in to its operations, saw HSBC coming out top from a total of 49 financial services companies. Sustainable banking means meeting the needs of …

Will HSBC Buy Charles Schwab?

Will HSBC buy Charles Schwab? Former HSBC Chairman William F. Aldinger is on the board of directors at Charles Schwab. As former CEO of predatory lender Household International Aldinger moved to HSBC when HSBC bought Household in 2002. Some analysts think HSBC has an insider at Schwab with Aldinger. Logically none of it makes sense …

Predatory Lender Former CEO Aldinger Joins Capmark

June 1, 2006–The board of directors of Capmark Financial Group Inc. (“Capmark”) today announced the appointment of William F. Aldinger, III as president and chief executive officer of the company, effective immediately. Aldinger, responsible for the most suits, settlements and foreclosures as a financial services industry executive, also has joined the company’s board of directors. …

Fannie Mae Took Lessons From HSBC' Household International

Senior executives at Fannie Mae manipulated accounting to collect millions in “maximum, undeserved bonuses” and deceive investors, a federal report charged Tuesday. The government-sponsored mortgage company was fined $400 million. The blistering report by the Office of Federal Housing Enterprise Oversight, the result of an extensive three-year investigation, was issued as Fannie Mae struggles to …