HSBC

HSBC plans to double mobile bank users in cost-cutting drive

06/26/20

HSBC is planning to shift services away from its branches in a push to make more of its customers migrate to its digital and mobile channels as it embarks on a massive cost and jobs cutting program.

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HSBC resuscitates plan to cut 35,000 jobs to boost growth

06/17/20

The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic.

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FDIC eyeing bank dividends; Morgan Stanley sued by former diversity head

06/17/20

Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan.

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Bank stocks slump on Fed forecast; Quicken going public

06/12/20

Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.

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PPP moves to stage two; HSBC chided for 'kowtowing' to Beijing

06/10/20

Small businesses that took out the loans will soon be applying for forgiveness; U.S. Secretary of State Pompeo and one of HSBC's large investors criticized the bank for buckling to Chinese pressure.

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Fed tweaks Main Street Lending Program; bank offices' post-pandemic look

06/09/20

The changes are meant to make the program more attractive for both business borrowers and the banks that make the loans; as workers trickle back to offices on Wall Street, they'll see a different landscape due to coronavirus concerns.

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HSBC lets Apple-using customers iMessage customer service

06/08/20

The U.S. division of HSBC Bank has added Apple’s iMessaging feature to its suite of customer service channels. Instead of waiting on hold, customers can trade texts with an agent.

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HSBC sides with Beijing over Hong Kong; overdraft fee haul

06/04/20

The bank’s Asia-Pacific chief backs law giving greater mainland control over the territory; the Center for Responsible Lending said big banks took in almost $12 billion in overdraft fees last year, with the bulk of it paid by lower-income customers.

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Mortgage underwriting tightens as rates fall; HSBC mulls sale of U.S. unit

05/26/20

Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.

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Libra Association names Stuart Levey as CEO ahead of regulatory push

05/06/20

The former Treasury Department official would be the first CEO of the digital currency association, which is seeking payment licenses in the U.S. and Europe.

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