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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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6 January
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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 [...]

2 November
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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 [...]

27 September
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Investor files FINRA claim against HSBC

FT. LAUDERDALE, Fla., Sept 26, 2011 /PRNewswire/ — A Honduran investor has filed claim against HSBC alleging that an investment described as a “Washington Mutual” perpetual bond was not a bond at all, but a derivative mortgage backed security, created by Washington Mutual, to take toxic home equity loans off [...]

11 September
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HSBC Household not registered to do business in Alabama?

LM in Alabama asks: “Looks like HSBC a/a/o Household Finance Corp of Alabama in 2008 and 2009 have numerous lawsuits which resulted in consent judgments and default judgments against the debtors. The interest rates in the consent judgments are exorbitant, and many of the complaints start as HSBC is a [...]

25 August
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HSBC loses tax fraud court battle

One of France’s highest courts rejected a plea on Wednesday by a Swiss unit of HSBC bank that a French government database of citizens holding bank accounts abroad should be blocked as an excess of power. In the decision, the Council of State said that the budget ministry in 2009 [...]