GB in California said: “Just for the record. I am a senior citizen, living on a very fix income. I have a college education.
My payment was due on the 8th. I send it in electronically on the 2nd. HSBC didn’t post it until the 10th. Then charged a $39 late fee. This is on top of an annual 19.99%(v) and a 28.99% cash advance loan. On this one statement the total charges were as follows; $39 late, $7.20 finance, $2.20 cash advance fee. My balance was $276. I don’t know what the (v) stands for but I’m sure the actual interest rate is much higher.
This is by no means a true example of the predatory practices of HSBC. A call to them will only get you a “outsource” robot in India. Not paying will get you put on the collection “hell” path. Endless phone calls by a computer, Fees, penalties, credit reports, law suits, etc.
These people are robbing and stealing daily. Who are they? Names please. Why are they allow to exist? The Attorney General and government are not big enough to go after them, even if they wanted to. You and I don’t stand a chance. We can’t even figure out who they are. They have millions to spend just on lawyers that help them hide, devise, and inploy there evil practices. I read somewhere that “legitmate” banks, i.e. bank of america, etc., make more on late fees, over drafts, etc, than they do on whatever services and products they provide!
Michael Moore is on the right track, but he needs our help. Our (America’s) corruption has gotten out of hand and it will be the end of us all. We are sleep walking…In Spike Lee’s words…WAKE UP AMERICA, PLEASE.”
Editor’s Note: HSBC is an equal opportunity predator if you look at it that way. White, Black, Asian - it makes no difference. No redlining, no prime or subprime. HSBC will credit your payment two days late. They’ve been doing it for years, paid $10 Million because of it, and never stopped doing it.
Some way, some how, Americans and their State Attorney’s General must find a way to stop this predatory tactic. How many reports must we publish, when all are exactly like this one? We receive at least one per day, every day, from all over the country. We published five “late payment” reports in the last two days.
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