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Posts Tagged ‘ London ’

29 May
Posted in 2007 HSBC
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HSBC Islamic Banking – Americans Take Notice

UK – May 25, 2007 — Further evidence that the profits of Britain’s banks are being hit by customers reclaiming bank charges emerged yesterday when HSBC admitted it was feeling the repercussions of a customer revolt. Guardian Unlimited reported the story. Unfortunately in the United States a full revolt has [...]

29 May
Posted in 2007 HSBC
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NASD Fines HSBC Unit for Bond Violations

NEW YORK — The National Association of Securities Dealers said it fined a U.S. brokerage unit of HSBC Holdings PLC $250,000 for failing to have adequate systems in place to supervise trading of government securities. The firm, HSBC Brokerage, also failed to ensure that its customers wouldn’t be harmed by [...]

12 April
Posted in 2007 HSBC
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China Says No To HSBC

HSBC (Hong Kong Shanghai Bank Corp) has been dealt a major blow to its expansion plans in China. Its main domestic partner, Chinese lender Bank of Communications, has been reclassified as a large state-owned bank, which protects it from a foreign takeover. Three years ago, HSBC paid $1.75 billion for [...]

8 April
Posted in 2007 HSBC
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Is Household International for Sale Again?

Look for signs of consolidation and streamlining as HSBC possibly looks to clean up their United States image by unloading predatory lender Household International, now called HSBC Finance Corporation. The North American division accounted for almost two-thirds of HSBC’s $10.6 billion in loan-loss provisions for 2006. HSBC earned $4.7 billion [...]

5 April
Posted in 2007 HSBC
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HSBC Panama Upsets London Headquarters

A long list of troubles for HSBC Panama’s General Manager Joseph Salterio grew even longer when newspaper “La Estrella de Panama” recently published an article, “Tras la pista de la Romana, S.A.,” about how the assets of a family rice milling company were allegedly transferred into another company, defrauding the [...]

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