Household HSBC Watch

After years of destroying the credit of families across America, William F. Aldinger, former CEO of predatory lender Household International, wants you to believe things have changed.

“We believe strongly in the importance of financial education to help consumers identify and pursue their financial goals,” says William F. Aldinger, chairman and chief executive officer of HSBC North America Holdings Inc. “That’s why we have a long history of providing consumers with the tools and resources they need to enhance their financial futures, and why we continue to invest heavily in financial-education programs.”

A recent Yahoo Finance article reveals 70 percent of consumers don’t know their credit score, nor what is considered when calculating a credit score. Of that 70 percent, some are customers of Aldinger’s HFC, Beneficial Finance, or are victims of Aldinger’s private label credit financing for stores such as Best Buy.

If HSBC North America and their “yourcreditcounts.com website” actually educates Americans, watch for another round of lawsuits as a potential 70% of Americans discover the damage done by Household - HSBC.

On the other hand, if Aldinger’s desire is to garner the trust and confidence of new victims, one only needs to do a Google search on “Household International,” “H&R Block RICO” and other key terms. John Stark, writer for the Bellingham Washington Herald is another good search term.

As Aldinger pushes his new educational program, his company continues to petition the court to seal testimony relative to foreclosures and flip loans issued nationwide by HSBC - Household, resulting on a nationwide $484 million settlement. While proposing that your credit counts, Aldingers company also agreed to settle Shea v Household, wherein HSBC acknowledged crediting customer payments late for almost 10 years. That settlement was only $11 million. Most of the 10 year period was while Aldinger was CEO of then troubled Household International.