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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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21 April
Posted in Foreclosure
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HSBC Recklessly Forecloses on Active Duty Military

A new suit, filed in U.S. District Court in Minnesota accuses Illinois-based HSBC Mortgage Services of violations of the Servicemembers Civil Relief Act, signed into law in 2003 as a way of easing the economic and legal burdens on military personnel called to service. News of the suit was published [...]

20 January
Posted in Subprime
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Judge fines HSBC in foreclosure case

A New York Supreme Court judge imposed a $10,000 fine on HSBC and a $5000 sanction on a law firm in a foreclosure case. The judge was the same judge that threatened Irene Dorner, head of HSBC USA, back in July. Dorner was ordered to appear in court. The judge [...]

6 January
Posted in General News
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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 [...]

27 November
Posted in History
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World Banking World Fraud by John Cruz

Here at Household Watch we got our start monitoring and writing about predatory lender Household International. Then HSBC bought the predator, thus we have almost eight years of HSBC material. Now a new book by a former HSBC insider brings new material to light. It does not shock us at [...]

2 November
Posted in General News
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You can challenge your HSBC foreclosure says OCC

US officials have launched an independent review process in which individuals can challenge foreclosures carried out by HSBC and other lenders / servicers. Independent consultants would assess if borrowers lost out financially “through errors, misrepresentations or other deficiencies in foreclosure practices,” the Office of the Comptroller of the Currency said [...]