HSBC cuts 6,100 US jobs

[cireone]

I found this article on msn.com.

http://www.msnbc.msn.com/id/29460805

this raises the question of what will happen to the current accounts that are under the subsidiaries that will be getting the boot.....................

[interjack]

I heard the same news on Bloomberg. It seems as thought they are closing all most all (if not all) retail consumer lending branches in the United States.

[hjm331]

No, in the article it states that they will keep the HSBC Bank N.A. business open for now.

It's the mortgage business that's hurting them.

[cireone]

But isnt the BestBuy store card under Beneficial??????

[Brian23]

But isnt the BestBuy store card under Beneficial??????

Beneficial is there mortgage/personal loan unit.

Here is the link for that; https://www.beneficial.com/learn-abo...seg_1=Prospect

The best buy mc and store card are thru HSBC Bank Nevada, N.A.

[cireone]

Well whats kinda strange is that when you apply for the store card the terms are from Beneficial and it is Beneficial that pulls your credit report.

[hjm331]

Cireone could be right. I didn't pay attention to that bit of detail but it's possible.