HSBC Holdings plc
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HSBC Holdings plc
8 Canada Sq. London UK
The second-largest bank in the world by assets (behind Citigroup), HSBC Holdings is active throughout the UK and Europe, North and South America, Asia/Pacific, Australia, the Middle East, and Africa. All told, HSBC has some 10,000 offices in more than 80 countries, providing consumer and commercial banking services, credit cards, asset management, private banking, securities underwriting and trading, insurance, and leasing. Its North American operations include HSBC USA, consumer lender HSBC Finance, and HSBC Bank Canada.
 Business Ethics
- US: Banks prone to sell minorities pricy loans: "The largest U.S. banks sold expensive subprime loans more frequently to minorities than whites, according to a study released Wednesday by a community activist group."
- HSBC Activist Levels New Criticisms: "Activist shareholder Knight Vinke Asset Management, which has been waging a campaign against HSBC Holdings PLC since September, added to its complaints against the banking giant."
- Credit Crunch: HSBC Is Sued Over Valuation of Fund's Bonds: "A U.S. real-estate fund has sued HSBC Holdings PLC, alleging that the British bank's U.S. mortgage-trading operations took advantage of the crisis to profit at the expense of the fund."
- HSBC Banking on Deforestation: HSBC continue to invest in the notorious rainforest destroyer Sinar Mas in Indonesia. Sinar Mas continues to clear the rainforest habitat of the orang-utan, has been shown as recently as April 2010 to be in the process of clearing forest for palm oil plantations and is draining peatland in an internationally recognised wetland area to make the land suitable for palm oil production.
This is highly contradictory to the image of protecting the planet the bank often boasts.