HSBC Finance

HSBC Finance Corporation
Company typeSubsidiary
IndustryFinance and insurance
Founded1878; 146 years ago (1878)
HeadquartersMettawa, Illinois, United States
Key people
Niall Booker (Chairman)
ProductsFinancial services
Number of employees
58,000 (including HSBC Bank USA, HSBC Bank Canada and CIBM)
ParentHSBC
Websitewww.hsbc.com

HSBC Finance Corporation is a financial services company and a subsidiary of HSBC Holdings. It is the sixth-largest issuer of MasterCard and Visa credit cards in the United States. HSBC Finance Corporation was formed from the legal entity that had been known as Household International—shortly after Household International settled for US$486 million in charges pertaining to predatory lending, after burning through $389 million in legal fees and expenses[1]—and is now expanding its consumer finance model via the HSBC Group to Brazil, India, Argentina and elsewhere.[citation needed]

HSBC Finance Corporation's subsidiaries primarily provide real estate secured loans, auto finance loans, MasterCard and Visa credit card loans, private label credit cards, personal non-credit card loans and specialty insurance products to middle-market consumers.

  1. ^ "Top Ten by Largest Settlement". securities.stanford.edu. Stanford Law School. n.d. Retrieved 22 September 2020.