HSBC Horror Stories

By anonymous submission a Washington state resident says: “I have recently spoken with investigators from the WA state Attorney General’s office and the Department of Financial Institutions. They need your help in prosecuting Household and Beneficial Finance business practices.

Past and present employees and customers need to contact the office of the Washington State […]

WN in Virginia said: “I, like many of your contributors have had a less than favorable experience with HSBC corporate affiliates but as harsh as this may sound they appear to be merely ignoring all these pleas from their hard working victims. A consumer protest or a mass boycott of the companies that use […]

SM in Colorado says: “In September 2006 my $500 limit credit card with HSBC was charged a $69 annual fee, three months before it should have been charged. I called to dispute the charge because it put me over my credit limit (I was not expecting the charge until December.) I called to have […]

Those attempting to defend HFC and Beneficial like to say “we don’t make that kind of loan anymore” or defend the company in other ways. While some former employees speak of customer abuse when they were with HFC or Beneficial, others comment on positive changes. Other than a small $10 million settlement for […]

BB in Texas says: “HSBC employs the rudest customer service agents that I have ever dealt with. But that is an entirely different story. HSBC claims that I signed up for electronic bills. They also claim that I signed up for some sort of insurance on my payments. I am 41 […]

NP in Tennessee said: “Several years ago, I bought a satellite receiver system. This was before the digital satellite systems we have now. The financing was arranged through EchoStar and GMAC. The original principle was $2800 for the system and installation, and the monthly payments were guaranteed to be under $70. It was my […]

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 […]

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 […]