HSBC Watch News Release Forum Index
Forum Name: - Predatory Lending
Topic Title: HSBC Wants Soldiers and Sailors Act Changed
Mon Dec 05, 2005 6:43 pm
Documents uncovered by Fair Finance Watch show that HSBC has attempted to narrow the terms of the Soldiers and Sailors Civil Relief Act to only those serving “in a hostile zone”, rather than, as stated by the act, “during any part of the period of military service”.
Here at Household - HSBC Watch we have evidence that Household International, and later HSBC, has been abusing our military for years. As a bit of history, on 19 December 2003, President Bush signed into law the “Servicemembers Civil Relief Act” (SCRA). This law is a complete revision of the Soldiers’ and Sailors’ Civil Relief Act (SSCRA). The act went in effect in 1940. After what Bush did for the bankruptcy law, class action law and others we wonder about his position. HSBC's position is clear. Should they be penalized for past violations?
It is unthinkable that HSBC should attempt to narrow the terms of the Soldiers and Sailors Act to benefit predatory lending. HSBC is headquartered in London, not the United States. Household International is headquartered in the U.S. as a subsidiary of HSBC. Neither is friendly to the United States military.
We report the findings so you can decide whether to support HSBC through over sixty merchants, Decision One mortgage, Beneficial FInance, Household Finance, and other online brokers. Our answer, of course, is 'Not at any cost".
Tue Dec 06, 2005 10:51 am
Visitors are invited to visit our front page where they can use our CapWiz form to contact their representatives and the media. We contacted Congressman Ike Skelton today.
Consider a friend of ours for a moment. He was called to active duty, thus taking a loss in pay. But instead of going directly to Iraq he is stationed in Fort Lewis Washington. If HSBC is successful in its attempt to narrow the terms of the Soldiers and Sailors Civil Relief Act he would be considered exempt from protection. HSBC wants to narrow the terms of the act to only those serving in a hostile environment. That is disgusting.
You can see our proof of concept at this link
Thu Jan 12, 2006 2:31 am
Cybertel Communications Corp. is giving troops overseas a cheaper alternative to AT&T Corp.’s prepaid calling card, which the FCC recently ruled was an unlawful scheme that allowed the company to avoid paying millions of dollars in connection fees and universal service contributions. Cybertel's VoIP Internet calls cost 75 percent less than AT&T, and if both parties had a Cybertel phone the calls were free.
Several media outlets have quoted military troops as saying they feel ripped off by AT&T’s prepaid calling rates. The FCC in February took issue with AT&T’s claims that its calling cards are not subject to the fees carriers pay one another to originate and terminate calls within a state. AT&T says paying the connection fees could mean it will have to raise the prices for its calling cards, which could harm military personnel. Then-FCC Chairman Michael Powell called the argument disingenuous.
“Shamelessly, they trumpet the impact of this decision on our soldiers serving in Iraq,” he said. “What is remarkable about this allegation is that other carriers are offering comparable rates to people serving in the military – some have even offered to donate free service - without taking funds from our rural universal service program or programs designed to help low-income individuals.”
The link between HSBC abusing the military and AT&T overcharging the military is William Aldinger. The former CEO of Household International moved to HSBC, and also sat on the board of directors of AT&T. Pro military? Not at all.
For more about voice over the internet see our Clear Net Calls website.
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