HSBC Horror Stories

CF in Connecticut sends a welcome, well written, detailed follow-up to his ongoing battle with HSBC:
“This another follow up to the on going battle with HSBC regarding my mortgage. AS I stated in earlier posts my loan has been found and verified to be in violation of Truth in Lending, RESPA and HOPA. HSBC has […]

This former employee did not want us to print initials or state of residence. We understand:
“I was just fired by HSBC Finance. They closed LOTS of CA offices.

Regarding these stories posted:
Bad employee treatment - verified
Posting payments late-verified
India customer service-verified
Additional - now they will give anybody an ORCHARD CARD instead of a personal loan […]

JM in Virginia said: “I bought a powerwasher at Northern Tool and Supply. I am trying to get my business off the ground. I am paying my payments on time, like 1 week in advance, so I go online to pay but instead of paying regular it’s like they just leave the […]

DR in Arizona said: “I have used the Best Buy HSBC credit card to buy products with deferred interest over the past several years. The theory being if you can use someone else’s money for free, why not. Otherwise, I do not carry balances. On their account I was down to a very low […]

As HSBC Finance begins to crumble people should understand the history of predatory lending with an emphasis on Household International and HSBC Finance. Our case study is found on eBay, and proceeds support the Household - HSBC Watch watchdog program and keep their volunteers busy instead of getting real jobs like being the greeter […]

In breaking news from New Delhi India it was announced that the investigative arm of India’s anti-monopoly watchdog has recommended action against HSBC for making false promises to credit card customers and violating the RBI guidelines.

Specifically HSBC has been accused of processing payments late and allegedly delaying delivery of bills.  With a track record of doing […]

LONDON — Shares of HSBC Holdings PLC fell Thursday after Europe’s largest bank by market capitalization said it is raising provisions for bad loans by 20 percent higher than the market had expected.“Foreclosures have shown a higher severity” than expected, Chief Executive Michael Geoghegan said on a conference call. “The major impact was taking into […]

It is true that, as some investors complained, HSBC is much more exposed to what looks like a more fragile U.S. economy than it was 10 years ago. But it bought Household International — the consumer credit concern with around 50 million customers in the United States and Britain — more than four years ago, […]