U.S. likely to look at HSBC tax cheat data

The revelation that an ex-employee of HSBC Holdings Plc stole tens of thousands of its Swiss accounts is likely to give U.S. tax authorities fresh clues in their pursuit of wealthy tax cheats abroad. “To the extent the HSBC data includes U.S. based taxpayers having interests in HSBC foreign accounts, it is a virtual certainty …

HSBC gets rid of mortgage brokers and more employees

New from Buffalo New York speaks to HSBC layoffs again. This time mortgage brokers – you know how they are regarded these days – are once again in mourning over HSBC’s decision to shut down wholesale and correspondent lending. HSBC will stop originations through the two “channels” effective immediately, citing “unprecedented market conditions,” according to …

Insider reports 102 HSBC branch closings

“It is confirmed. 102 branches closing in the United States! HSBC has proven again that they really don’t care about their people when it comes to making choices. Meetings are in progress starting October 29, 2008 and the districts will be communicating their managers some time next week. We are going from 13 divisions to …

HSBC Consumer Lending is largest subprime lender in America

Did you think HSBC Finance was gone, or exited the subprime market? HSBC has been quiet, but HSBC Finance is not gone. They are called HSBC Consumer Lending and they are still in Prospect Heights Illinois. As for subprime, according to National Mortgage News, in the second quarter of 2008 HSBC Consumer Lending was the …