HSBC Holdings  announced further cuts in its U.S. consumer finance business and said a steep loss from North American operations again undermined strong performance elsewhere in the first half.

The London company said Monday that it started shuttering HSBC Finance Corp.'s auto finance business last month, and that it plans to wind down about 80% of the unit's roughly $13 billion car loan portfolio over three years. HSBC also reduced the Mettawa, Ill., unit's consumer finance branch network by another 100 offices, to 900. The company cut about 400 last year.

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