Six years after a $14 billion deal that marked its entry into the U.S. subprime mortgage market, HSBC Finance Corp. admitted Monday that its purchase of Prospect Heights-based Household International “has not been a successful acquisition” as it announced the closing of the unit catering to borrowers with spotty credit histories.

The candor over the 2003 deal came as Mettawa-based HSBC Finance, part of HSBC Holdings PLC of London, said it would close all 800 remaining U.S. Household and Beneficial branches, eliminating 6,100 jobs nationwide as the effects of rising unemployment keep mortgage delinquencies stubbornly high. (Chicago Tribune)