October 28, 2016 9:15 AM ET

Thrifts and Mortgage Finance

Company Overview of HSBC Finance Corporation

Company Overview

HSBC Finance Corporation, through its subsidiaries, provides real-estate secured loans in the United States. The company was formerly known as Household International Inc. and changed its name to HSBC Finance Corporation in December 2004. HSBC Finance Corporation was founded in 1878 and is based in Mettawa, Illinois. HSBC Finance Corporation operates as a subsidiary of HSBC Investments (North America) Inc.

26525 North Riverwoods Boulevard

Suite 100

Mettawa, IL 60045

United States

Founded in 1878

1,600 Employees



Key Executives for HSBC Finance Corporation

Chief Executive Officer
Age: 55
Chief Financial Officer and Executive Vice President
Age: 53
Chief of Staff to the Chief Executive Officer, Head of Strategy & Planning and Senior Executive Vice President
Age: 55
Chief Operating Officer of USA and Senior Executive Vice President
Age: 52
Chief Risk Officer, Senior Executive Vice President and Executive Director
Age: 55
Compensation as of Fiscal Year 2016.

HSBC Finance Corporation Key Developments

HSBC Finance Resolves Illegal Service Member Car Repossessions Claims

HSBC Finance Corp. has agreed to pay $434,500 to settle allegations that it illegally repossessed 75 cars owned by military service members. An investigation by the U.S. Department of Justice has revealed that the company conducted repossessions without getting the necessary court orders even as its own records suggested that a borrower could be a service member. The settlement covers repossessions between 2008 and 2010. HSBC sold its car lending operations and assets to Santander Consumer USA Inc., which settled similar charges in February 2015. Most of the service members covered by the HSBC settlement received partial compensation through the settlement with Santander Consumer USA. HSBC will pay $5,500 each to those who were partially compensated under the Santander Consumer USA settlement and $11,000 to those who did not receive any payment.

HSBC Finance Corporation(NYSE:HSFC.PRBCL) dropped from S&P Preferred Stock Index

HSBC Finance Corporation(NYSE:HSFC.PRBCL) dropped from S&P Preferred Stock Index

HSBC Finance Corporation(NYSE:HSFC.PRBCL) dropped from S&P U.S. Fixed Rate Preferred Stock Index

HSBC Finance Corporation(NYSE:HSFC.PRBCL) dropped from S&P U.S. Fixed Rate Preferred Stock Index

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Recent Private Companies Transactions

May 27, 2016
Pool of Real Estate Secured Receivables

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