News Topic: HSBC

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

The two lenders are being more aggressive than other European banks in putting a price on the economic devastation caused by the coronavirus outbreak. ... Read full article

Utah bank is expected to launch next year; banks want to hold off regulations that would hamper efforts to keep money flowing during virus crisis. ... Read full article

The central bank made two more moves to keep credit flowing; the Housing Policy Council plan would halt mortgage payments during the COVID-19 crisis. ... Read full article

Quinn served as acting CEO since August, when John Flint was ousted over concern he couldn't lead the bank through an increasingly treacherous series of economic challenges. ... Read full article

HSBC sounded out former Citigroup banker James Forese to gauge his interest in the chief executive officer's post, at least the third high-profile outside financier to be approached. ... Read full article

Bankers express confidence despite coronavirus concerns, while consumers ponder cash needs; U.K. will hold off unloading its 62% stake in bank. ... Read full article

Leaders to parlay with president as banks worldwide offer to aid customers; Wells CEO says the bank will be run “fundamentally differently” than in the past. ... Read full article

Banks make emergency preparations as HSBC deals with confirmed case; the changes simplify regulations without posing additional systemic risks, the Fed says. ... Read full article