Tuesday, August 1, 2006

HSBC calls for regulation of companies offering advice to those in debt

Bad debts take shine off record HSBC profit

As bad debts soar at HSBC the bank calls for companies that offer advice to those in debt be more heavily regulated. The chief executive of HSBC's Dyfrig John said, "We believe that IVAs and bankruptcies . . . are sold inappropriately in some circumstances.”. Of course financial institutions would never offer financial services "inappropriately in some circumstances” would they.

Posted by denzil @ 09:41 AM (495 views)
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3 thoughts on “HSBC calls for regulation of companies offering advice to those in debt

  • Classic ‘do as I say, not as I do’.

    Don’t you just love the banks.

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  • I had to laugh the chairman of HSBC is called “Dyfrig John”. I thought the name was wrong so I checked it on Google.
    Do a google for “Dyfrig John” and click the very first link.

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  • George Monsoon says:

    Denzil, I did what you said.

    I could only read the first couple of lines before the garish red nearly caused me to fit!

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