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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 ‘ United States ’

3 May
Posted in General News
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US to probe more tax evaders

The U.S. government expects to probe thousands more cases of wealthy individuals dodging taxes through offshore bank accounts, on top of the high profile case against UBS AG, a U.S. tax attorney said on Monday. “We expect over the next couple of years, in addition to the UBS cases, to [...]

13 March
Posted in General News
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U.S. likely to look at HSBC tax cheat data

The revelation that an ex-employee of HSBC Holdings Plc stole tens of thousands of its Swiss accounts is likely to give U.S. tax authorities fresh clues in their pursuit of wealthy tax cheats abroad. “To the extent the HSBC data includes U.S. based taxpayers having interests in HSBC foreign accounts, [...]

20 November
Posted in Jobs and Layoffs
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HSBC gets rid of mortgage brokers and more employees

New from Buffalo New York speaks to HSBC layoffs again. This time mortgage brokers – you know how they are regarded these days – are once again in mourning over HSBC’s decision to shut down wholesale and correspondent lending. HSBC will stop originations through the two “channels” effective immediately, citing [...]

30 October
Posted in Jobs and Layoffs
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Insider reports 102 HSBC branch closings

“It is confirmed. 102 branches closing in the United States! HSBC has proven again that they really don’t care about their people when it comes to making choices. Meetings are in progress starting October 29, 2008 and the districts will be communicating their managers some time next week. We are [...]

11 October
Posted in Subprime
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HSBC Consumer Lending is largest subprime lender in America

Did you think HSBC Finance was gone, or exited the subprime market? HSBC has been quiet, but HSBC Finance is not gone. They are called HSBC Consumer Lending and they are still in Prospect Heights Illinois. As for subprime, according to National Mortgage News, in the second quarter of 2008 [...]