This is the opinion of the submitter: “I saw your post regarding licenses for BSMs. I want to add some color around that. HSBC NA, through the retail consumer finance channel (HFC/Bene), is rapidly working to shift from the old high rate/points subprime lender they’ve been for decades to a streamlined FHA, money for the ‘people’ type of operation in an effort to survive. Survive it won’t.
Archive for » February, 2009 «
This is an interesting report. It was received today:
Here is the word from upper management. BSM’s now must have their broker licence. Problem is that due to the massive pay cuts a lot of BSM’s had to file bankruptcy, either chapter 7 or 13. Once the state does the credit check and background, the state won’t allow the BSM the Broker’s licence, and then the BSM either has to step down to step out.
Category: Jobs and Layoffs
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As the world awaits HSBC’s annual report one fact is perfectly clear already. Customer credit limits are greatly reduced, spreading anger and resentment. Credit card holders with good credit were left stranded. Those who pay off their balance every month now have low credit limits, making HSBC credit cards worthless.
Category: General News
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As the world prepares for HSBC’s annual earnings report, we continue to receive reports that United States operations under HSBC Finance Corporation continues to frustrate and alienate customers. HSBC is reducing credit limits on many credit cards, stranding customers and embarrassing others.
Category: Subprime
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As part of our “Stop Abuse 2009″ campaign, if you mail your payment well ahead of HSBC’s due date, and it is processed as a ‘late payment’ you might be interested in mail fraud. Here are the details:
Category: Stop Abuse 2009
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