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HSBC to Pay $434,500 for SCRA Violations

The Justice Department announced that HSBC Finance Corp. has agreed to pay $434,500 to settle charges that its vehicle repossession practices violated the Servicemembers Civil Relief Act (SCRA).

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Santander Completes Acquisition of HSBC’s Auto Loan Business

HSBC Holdings PLC, a UK-based provider of banking and financial services, has sold its remaining U.S. consumer auto finance business for $3.56 billion in cash to Santander Consumer USA Inc.

Santander Consumer to Acquire HSBC's Auto Business

HSBC Finance Corporation announced that Santander Consumer USA Inc. will acquire its auto loan servicing business and $1 billion in auto loan receivables for $904 million.

Polaris Reports a 2Q Decline Sales and Income

Polaris Industries Inc. today reported net income of $17.5 million for the second quarter ended June 30, 2009, down from the $24.4 million reported in the year-ago period.

Survival Mode: New Solutions for Staying in Business

With all the bad news floating around, crawling into a hole really doesn’t sound like a bad idea these days. However, that’s not what businesses do. And it’s clear by some of the more positive news out there that industries aren’t ready to throw in the towel.

Be Careful What You Ask For

Nothing could describe the month of July better than a headline I read in CNW Market Research’s July 16 newsletter. It read: “Time to Panic: Industry Pushes Into Auto DefCon4.” I wonder what the headline would have read if the newsletter was released nine days later.