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Posts Tagged ‘ late fees ’

13 August
Posted in 2007 HSBC
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AN open letter to HSBC’s Alex Hungate

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the [...]

9 August
Posted in 2007 HSBC
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Credit card asset backed securities examined

Recent problems in the subprime sector spread around the world very quickly. Then the problems spread to Alt-A mortgages. Cash strapped borrowers with second mortgages and adjustable rate mortgages caught the attention of the world. By the morning of August 9, 2007, something else caught the attention of investors around [...]

6 August
Posted in 2007 HSBC
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Shareholders, Others, Poised to Sue Over Subprime Losses

When HSBC lost money due to HSBC Finance the bank worked very hard to turn a profit elsewhere. Developing nations held the wolves at bay as those opposed to HSBC’s Household International remain posed to file suit if the bank turned shareholder profits into a loss. Others may still file [...]

29 July
Posted in 2007 HSBC

Guardian Reports HSBC Unsecured Loans Souring

The Guardian reported on Sunday, one day before HSBC is due to release half-year results , that HSBC’s unsecured portfolio is experiencing bad debt. Analysts imply that subprime mortgage blues have spread to other parts of HSBC. Antony Broadbent, banking analyst at Sanford Bernstein, expects the bank to warn that [...]

1 July
Posted in 2007 HSBC
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Qatar Youth Get HSBC Headstart, Americans Get The Shaft

In Qatar HSBC held a savings day for its ‘Headstart’ account holders. The grand prize of an Acer computer with an LCD monitor and printer was won by 10-month-old Marrey Trixie. Headstart accounts are available to all children up to 18. Meanwhile in the United States there was little joy [...]

HSBC USA Fail

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

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