HSBC holdings

HSBC got plenty of attention when it disclosed that it had suspended foreclosures in its annual report Monday. But its not the only bank whose annual report made for interesting reading. The risk disclosures in banks' annual reports shed some light on their attitudes toward the mortgage mess.

Banks' paperwork problems aren't over: In its annual report, HSBC Holdings said it has suspended foreclosures in the U.S. after a government review found documentation problems.

HSBC Holdings Plc Chief Executive Officer Michael Geoghegan will step down at the end of the year after Europe's largest bank veered from its tradition of promoting its CEO to Chairman, the Financial Times reported, citing two people familiar with the process.

Stephen Green, the chairman of British bank HSBC (HBC), will step down to become the United Kingdom's new Trade Minister, BBC News reported. The appointment will be announced later today, BBC News said without naming its sources. There has recently been speculation that HSBC could move its...

HSBC Holdings (HBC) sold its last U.S. auto finance units to Spain's Santander (SA) for about $3.56 billion. Santander Consumer USA is also assuming $431 million in debt, The Associated Press reported. The Spanish bank is acquiring a loan book valued at $4.3 billion. In March, Santander...

At least one client received a letter from the Justice Department saying the department had reason to believe the person held accounts overseas without reporting them to the IRS. The letter did not mention HSBC.

After a painful 2008, insurance companies have made a comeback, with plenty of cash on their balance sheets. As a result, mergers and acquisitions will likely dominate the insurance and reinsurance market in 2010.

JP Morgan Chase became the first bank to drop its arbitration clause from its credit card contracts, so Chase credit card holders will have the right to go to court to dispute a problem with its credit card decisions. This decision was part of a settlement of an antitrust lawsuit filed by...

Shares in Asia were mixed Monday with the Hang Seng down 1.1 percent to close at 20,932 and the Nikkei dropping 2.3 percent to end the day at 10,202. Only the China markets were in the green with the Shanghai Composite gaining 1.2 percent to close at 3,027. The Chinese index might have gone higher,...

The Federal Reserve does not want to release details about the financial institutions that have received more than $1 trillion in loans through about a dozen emergency programs. To stop the release, the Fed asked U.S. District Judge Loretta Preska to delay enforcement of her August 24 ruling...