Breaking News – Fed to monitor subprime lenders starting in 2009

This is terrrible, ironic, and unfortunately it is still required. Years ago this proposal would have saved people from HSBC Finance, Citifinancial, and many others. Needless to say this decision is many years too late: The Federal Reserve announced Tuesday that it will extend its regulatory umbrella to cover a group of lenders that includes …

How predatory lending became acceptable to everyone

In the United States, years before the so-called “subprime crisis”, various financial businesses existed to serve the needs of the middle class. Among those were Household International, Citifinancial, and Avco. Household International represented the Household Finance (HFC) and Beneficial Finance brands. As these companies were purchased or absorbed into parent companies, some were also charged …

Top 25 Subprime lenders and biggest losers

For many years it has been our opinion that predatory lending became the acceptable norm, followed by a period of aggressive Wall Street greed. When predatory became subprime, and with regulators totally asleep, these 25 institutions effected the entire world economy: Countrywide Financial Corp. Amount of Subprime Loans: At least $97.2 billion Ameriquest Mortgage Co./ACC …

Expect HFC, Beneficial Finance Closings as HSBC Cuts Back

Analysts at Household – HSBC Watch think HSBC learned from the recent subprime crisis, regardless of what they tell Knight Vinke and other activists. After studying HSBC and Household International for many years Household – HSBC Watch thinks HSBC will make a move soon. Changes must look like they are HSBC’s idea, not forced by …

Lending standards increase for credit cards, autos, others

The credit crunch which started with subprime has spread. For those with less than perfect credit it is now harder to get auto loans, credit cards, and personal loans. I think some of the bond ratings companies finally woke up and realized that standards need to increase or bond ratings need to decrease. Here is …