History of HSBC Bank in the U.S.

From the Wall Street Journal

HSBC Holdings PLC still is grappling with subprime businesses in the U.S. that have saddled the company with billions of dollars in losses. Yet the company is tiptoeing into new markets in the U.S. and expanding in others.

Article also includes some the history of HSBC Direct (now called HSBC Advance):

In 2005, HSBC launched an online bank in the U.S., HSBC Direct, which has amassed $15.5 billion in savings deposits.

They don't seem too interested in growing their deposits these days. HSBC Advance's 1yr CD is only paying 0.40%.