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In 2009, HSBC Finance Corporation announced the discontinuation of loan originations of all products by its Consumer Lending business, but continue to service and collect the existing receivable portfolio as it runs off, while continuing efforts to reach out and assist mortgage customers with their loan repayments and home preservation. [10]
In April 2008, HSBC confirmed the loss of unencrypted data disks containing life insurance policy details for 370,000 customers. [18] In February 2011 HSBC sent a letter dated 11 February to an unknown number of recipients, stating that they were "writing to inform you of the potential compromise of some of your former account information with us."
In 2010, HSBC was rated the worst in customer advocacy by Forrester Research, which asked bank customers to rank their banks. In the national survey of approximately 4,500 banking customers assessing the top 50 banks, in answer to the question: "My financial provider does what’s best for me, not just its own bottom line," HSBC set a new all ...
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Hong Kong's banks piled in on Thursday to offer additional relief to homeowners and businesses to support an economy hit hard first by months of anti-government protests and now by the coronavirus ...
Fixed-rate mortgage: A fixed-rate mortgage has the same interest rate throughout the length of the loan, so every payment will be the same. This predictability makes fixed-rate mortgages the most ...
HSBC Direct is a telephone/online direct banking operation which attracts customers through mortgages, accounts and savings. It was first launched in the USA [ 177 ] in November 2005 and is based on HSBC's ' First Direct ' subsidiary in Britain which was launched in the 1980s.
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