Short complaints

The Office of Fair Trading, which prosecutes financial crimes in the U.K., reached an agreement with HSBC Holdings Plc, Royal Bank of Scotland Group Plc and six other banks on overdraft fees, while earlier this month another watchdog said it would limit how banks sell some forms of payment insurance. The regulatory overhaul being crafted …

Subprime losses by bank in 2007 show HSBC at number 1

Today we look back at early 2007 to see HSBC as a major factor in US subprime. The SEC provided a list of subprime mortgage write-offs early in the crisis. HSBC held the number one spot. Without a doubt HSBC also attracted the attention of regulators. Here are subprime write-offs, listed by bank: HSBC – …

Subprime blame points at HSBC, other private lenders

According to Aaron Pressman, writing in Bloomberg BusinessWeek in 2008, Fannie and Freddie were victims, not perpetrators, of the housing crisis. Pressman writes that “virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie … most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those …