Household HSBC Watch

Sandra Derickson, a Household vice chairwoman, claimed Household’s and HSBC’s expertise in U.S. and U.K. private-label store cards paid off this fall when Household acquired British department-store chain Marks & Spencer Group’s credit card business. Saks was credited.

US consumer advocacy organization Household Watch points out that when Saks signed on with Household a Saks press release cited “on-going compensation.” It was later revealed in court documents relative to Shea v. Household ( located here - login as guest ) that part of said compensation to Saks might have been derived from late application of payments, resulting in late fees, overlimit fees, and telephone payment fees. Search our forums for more.