An Obituary for HSBC Consumer Finance

What happens when HSBC dives in to subprime, takes a huge multibillion dollar loss, turns tail and runs away from customers, and alienates as many US citizens as possible? Wells Fargo has become the largest Western bank when measured by its stock market value after it leapfrogged rivals HSBC and JP Morgan last year. I …

Wells, Capital One Eye HSBC Assets

NEW YORK, July 14 (Reuters) – Capital One Financial Corp and Wells Fargo are among the bidders for HSBC Holdings Plc’s U.S. credit card portfolio, according to sources familiar with the situation. In a separate HSBC asset sale, U.S. regional banks First Niagara Financial Group, KeyCorp, and M&T Bank Corp are among the bidders for …