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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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15 October
Posted in Tom Detelich
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HSBC’s Tom Detelich and MMI PHASES raises questions

HSBC is donating (if that is the right word) money to help with foreclosure prevention. We view this announcement with reservation, since foreclosures and lack of response by HSBC are still reported by homeowners. However, Money Management International (MMI), a nonprofit credit and debt counseling and education agency, today announced [...]

15 October
Posted in General News
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Presenting Household International as HSBC Consumer Lending

HSBC Finance recently cut 214 jobs in Franklin Park and Elmhurst as its consumer lending unit moved its records administration duties from Illinois to Buffalo. About a third of the affected workers have been placed in alternative positions within HSBC, a spokeswoman said. As for HSBC’s credit card business, according [...]

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 [...]

11 October
Posted in General News
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HSBC News blog archived, starts in new location

When Household – HSBC Watch moved to a new server we realized some of our databases have grown over the years. To help out our new server, and the database interface, we decided to retire the original Household – HSBC Watch news blog, seen here. The new blog (they one [...]