HSBC Exiting Indirect Auto Finance Business

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HSBC Finance Cor­po­ra­tion has decid­ed to dis­con­tin­ue its indi­rect auto finance busi­ness and instead focus on its core cred­it card and con­sumer lend­ing busi­ness. HSBC’s per­son­al finan­cial ser­vices busi­ness post­ed a $2.2 bil­lion loss in the first half of 2008.