HSBC Holdings PLC, London, is taking a larger-than-expected $3.4 billion third-quarter loan impairment charge, $700 million of which is related to unanticipated U.S. real estate-secured declines, but the company says the negative developments would be "more than offset" by revenue growth in other areas.U.S. subsidiary HSBC Finance Corp., Prospect Heights, Ill., said in a Nov. 14 report that it has seen a "marked increase in delinquencies" in mortgages originated by its retail branches. The nonmortgage portion of HSBC Holdings' overall loan impairment charge was "largely due to branch unsecured loan and cards portfolios," according to the company. HSBC can be found on the Web at http://www.hsbc.com.
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
6h ago -
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
11h ago -
The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.
11h ago -
Rising home prices and softening sales offer a mixed view of a market that some say is shifting to favor buyers.
11h ago -
The notes are backed by home improvement installment loans originated by approved dealers in Foundation Finance Company's network.
11h ago