Household HSBC Watch

October 26, 2004:
Great Britain/U.K./United Kingdom -
CREDIT card bosses have faced fresh calls from MPs to implement measures to control consumer debt. Leading banks faced a grilling from the Treasury Select Committee today over the policy of unsolicited cheques sent out to customers.

Credit card bosses were told that their methods of calculating card charges […]

10-25-2004:
Britain’s £520bn-a-year lending industry faces a crackdown starting today aimed at protecting borrowers from extortionate interest rates, unfair contracts and mis-selling on everything from mortgages to back-street loans.

HSBC can supply their due diligence study of Household International, know called HSBC North America. Household - HSBC Watch, a U.S. based consumer watchdog, studies the […]

In Shea v Household Shea received his notification and did not accept the terms imposed by Household - HSBC. Shea did not pay off his account, but refrained from using the account.

Household failed to mail bills to consumers during that period of time, covering almost ten years.
The problem for Household results from not knowing […]

Comments received by consumer advocacy volunteers at Household - HSBC Watch indicate that some Americans are documenting their consumer woes and waiting.

Anticipating civil RICO suits against HSBC North America and various merchants while hoping existing liabilities take their toll, furious customers and former customers are scheming.
Forecasting layoffs and cutbacks, and possible selloff of tainted and […]

Trying to track down troubled predatory lender Household International? Former stock symbol HI? Need updates to the nationwide $484 million settlement? Updates on RICO charges against H&R Block and Household? Perhaps you are looking for Household Retail Services, HRS or HRSI?

The names have changed.
HSBC North America Holdings (formerly Household […]

HSBCs North American businesses include HSBC Bank USA, National Association; HSBC Bank Canada; HSBC Mortgage Services; HSBC Card Services; HSBC Retail Services; HSBC Auto Finance; HFC Canada; and HSBC Taxpayer Financial Services as well as the consumer lending business.

They have facilities in Salinas, Calif.; San Diego; New Castle, Del.; Brandon, Fla.; London, Ky.; Las Vegas; […]

By 2006 London-based multinational bank HSBC - which has a presence in 82 countries and made a profit of $12 billion last year - will have outsourced 7,000 jobs from the UK to back office processing and call centres, mainly in India. The move is entirely cost driven, said UNIFI’s Rob O’Neil.

As many as […]

Patterns of business fraud more typically fall under RICO statute which is discussed in some detail on the FBI’s website at

http://www.fbi.gov/hq/cid/orgcrime/statutes/ricostatute.htm
Contacting the Bureau to report suspected violations of U.S. federal law can be handled by submitting a tip via the FBI Tips and Public Leads form
https://tips.fbi.gov/

Claimed by HSBC:
“New Merchant Relationship Underscores HSBC’s Leadership in Private Label Financing”

Facts behind the story:
1. HSBC’s private label financing is by troubled predatory lender Household International, now a wholly owned subsidiary of HSBC.
2. Merchants receive ongoing compensation from private label credit card accounts.
3. Household, even while owned by HSBC, credited customer payments […]

October 2004 - HSBC’s Stephen Green outlined the game plan. HSBC’s (Household International’s) subprime focus will shift to Asia once it expands its business in Mexico and Brazil. The Asian hit-list includes India, Malaysia, Singapore and Thailand.

Green said HSBC is focusing on consumer finance because it is more profitable than some other areas […]