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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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Posts Tagged ‘ HSBC Finance ’

24 May
Posted in Subprime
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HSBC Finance runoff down to 70 Billion

Reuters is reporting that Household Finance Corp’s liabilities stood at about $70 billion, Chief Executive Michael Geoghegan said in Hong Kong on Monday ahead of the bank’s annual shareholders’ meeting in London on May 28. The unit’s run-off portfolio, which excludes its credit cards arm, was down from $78.9 billion [...]

20 May
Posted in History

Santander USA now has HSBC auto loans

AS a reply to many of you who asked about HSBC AUto loans, we want to clarify this point. On 10 November 2009, HSBC Finance Corporation announced its auto finance entities had reached an agreement with Santander Consumer USA Inc. (SC USA) to sell HSBC US auto loan servicing operations [...]

20 May
Posted in General News
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Forget subprime – HSBC USA wants globally minded customers

HSBC Bank USA, N.A. today confirmed the appointment of seven experienced bankers to reinforce its expanding Premier business in Washington D.C. Clearly this is a step HSBC can take with or without Household International and HSBC Finance. HSBC’s premium international financial management service is tailored to individual needs while providing [...]

14 May
Posted in General News
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HSBC data theft may end Swiss bank secrecy

HSBC has caused or seen the end of many eras. Some were intentional and some were not. HSBC caused the end of predatory lender Household International when HSBC bought the company. HSBC saw the end of HSBC Finance, formerly Household International. Now HSBC may have caused the end of Swiss [...]

13 May
Posted in General News
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HSBC cautioned in New Zealand

The New Zealand Commerce Commission has warned state-owned lender Kiwibank and HSBC over the fees they charge customers for repaying mortgages early. The regulator completed an investigation into the fees after “a range of complaints from bank customers” following sharp declines in interest rates in late 2008 and early 2009. [...]