HSBC Horror Stories

The following complaints about HSBC, received from individuals around the country, should be considered as allegations only. We make no effort to investigate the validity of complaints submitted by customers and non-customers. Instead we monitor complaints such as these for trends that can be verified, just as we did before Household International was […]

HSBC and others offer interest free promotions through merchants such as Best Buy. This blog is filled with complaints about how these accounts are handled, thus we publish this alert here. In fact only moments ago we received a new complaint about this practice, stating that the final payment was not credited for […]

NM in Pennsylvania says: “HSBC has my MasterCard account dispute $170. frivolous HSBC penalties since Dec 01 2006 which it unlawfully is failing to recourse from HSBC undisputed balance of $0 as I pay off my monthly balances; HSBC frivolously demands I pay its unevidenced $35 late monthly payment. HSBC penalty unmeritedly alleged […]

A few years ago our team at Household - HSBC Watch defined predatory lending as “the practice of imposing inflated interest rates, fees, charges, and other onerous terms on home mortgage loans not because the imperatives of the market require them, but because the lender has found a way to get away with them.”

Looking back […]

For a banker - or a finance company predator - getting fired isn’t all that bad.

Do you feel sorry for Bobby Mehta and Sandy Derickson, summarily fired from HSBC for their connection to the bank’s catastrophic foray into high-risk US mortgages?  Why should you? They had been paid $40 million (£20 million) in performance-related bonuses.

In […]

Monday, February 12, 2007:  In an attempt to salvage its US consumer finance business, HSBC is to target new immigrants to the United States because of their lower credit risk, according to the UK’s Sunday Telegraph Web site.

According to the Sunday Telegraph Web site, HSBC plans to divert more resources into targeting new immigrants to […]

Within a few years HSBC admitted they did not do their homework when it came to Household International, although at the time they insisted the performed due diligence. When consumer watchdog organization Household - HSBC Watch (see more) wrote opposition letters protesting the buyout of Household International by HSBC, attorneys representing HSBC downplayed or disputed key […]

A whoppping 82 percent of cardholders report dissatifaction with their HSBC backed credit card.  See the survey here.  The link will open in a new window so you can take the survey easily.  Over 600 people took the survey, thus the unsatisfactory rating for HSBC is not from a random small sample.  Most appear dissatisfied with […]