HSBC Finance Corporation is an indirect wholly owned subsidiary of HSBC North America Holdings Inc. (HSBC North America), a bank holding company, and an indirect wholly owned subsidiary of HSBC Holdings plc. Its lending products include real estate secured loans, MasterCard, Visa, American Express and Discover credit card loans and personal non-credit card loans. Its lending products also include private label credit card loans, which it sells on a daily basis to an HSBC affiliate. The Company also offers tax refund anticipation loans and other related products in the United States, as well as offers specialty insurance products in the United States and Canada. In July 2008, the Company stopped originating auto finance loans in the dealer and direct-to-consumer loan origination channels. In January 2009, it stopped all originations of auto finance receivables.(Source: 10-K)