HSBC Finance recently cut 214 jobs in Franklin Park and Elmhurst as its consumer lending unit moved its records administration duties from Illinois to Buffalo. About a third of the affected workers have been placed in alternative positions within HSBC, a spokeswoman said. As for HSBC’s credit card business, according to CBS News, HSBC (HBC) sent out 54% less direct mail advertisements. Judging by our complaints blog, that might be a good thing for unsuspecting consumers.

Elsewhere we spotted a name change - to HSBC Consumer Lending. According to the description “HSBC’s Consumer Lending business operates in the United States under the HFC and Beneficial names.” That makes it the third generation for predatory lender Household International. Bought by HSBC in 2003, Household International became HSBC Finance. Now it is called HSBC Consumer Lending. Judging by our complaints blog, that might require some research by unsuspecting consumers.

Before anyone takes out a loan, get a credit card, or does any financing with HSBC Consumer Lending we strongly suggest a review of our HSBC complaints section.

Related posts:

1. The end of HSBC Household International insurance packing era
2. Hong Kong Monetary Authority, U.S. Federal Reserve and HSBC’s Household International
3. Timeline of Household International and HSBC troubles
4. HSBC Business Solutions and HSBC Consumer Credit
5. HSBC Consumer Lending is largest subprime lender in America