First HSBC selloff - Sign of things to come?

[haulingthescoreup]

FWIW, which isn't much at all, I haven't heard anything on my BB store card (through HSBC.)

Looks like maybe they're splitting off their CC portfolio in chunks...

[Cleanmachine]

As of this writing HSBC is in negotiations with Capital One and Wells Fargo regarding

the Credit Cards.

[snowangel]

I'm guessing their banking division is a totally separate entity from their CC division.  I doubt the selling of these branches is going to be a reflection of who they sell their cc portfolio to.   

[Wolf3]

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@snowangel wrote:

I'm guessing their banking division is a totally separate entity from their CC division.  I doubt the selling of these branches is going to be a reflection of who they sell their cc portfolio to.   

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+1

[drkaje]

Banking and CC divisions are probably seperate. FIA, for example, manages credit cards for BoA and others.

DGF was on a rant about HSBC yesterday morning yet very glad she had changed from working there just two months ago.

[Anonymous]

Just a quick update I read today: http://www.huffingtonpost.com/2011/08/02/hsbc-layoffs-hiring_n_915952.html

Basically HSBC is laying off 30,000 people in the US and Europe to focus on "emerging markets".