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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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New England HSBC branch closings needs confirmation

Branch closings scheduled for March are reported to be 4 in New Jersey, 3 in Maryland, and 2 in Delaware. Can any one confirm or deny this report?

Today we were told:

“In response to the question regrading branch closing in MD and other Mid-Atlantic states. I’m hearing rumblings of yet another wave of retail ‘branch optimizations’ that are due to occur by the end of Q1. 100′ish branches to be closed. One could assume 2-4 in most of the states in which HSBC operations Bene/HFC branches get’s to that number. This appears to be part of that wave vs. one offs in those particular states. It’s no secret the company has no choice but to continue to shed expenses in the North American retail consumer finance model until it can be turned around to profitability, sold or closed all together. “

Posted By Timothy Blake

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off