Effective June 2004, Household - HSBC is the third largest private label provider in the US with just under 15 billion in managed receivables, some 14.4 million active accounts, 60 merchant relationships and about 2,300 employees in seven locations.
Archive for » January, 2005 «
GE Consumer Finance (GECF) has completed a succession of deals in the cards arena, agreeing last month (December 2004) to buy the assets of private-label credit card issuing bank Dillard National Bank for $1.25 billion and the retail card receivables of US retailer Target Corporation’s Mervyn’s business unit for $475 million, and entering talks to create a business alliance with Hyundai Card, the credit cards company affiliate of Hyundai Motor Co.
Category: HSBC North America, You Should Know
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Recent complaints sent to watchdog organization Household - HSBC Watch indicate poor sales figures for General Motors are linked in part to disgruntled customers who have a GM credit card. Backed by HSBC, which is the new name of former troubled predatory lender Household International, customers report that service is poor and attitudes are poorer at HSBC.
Category: HSBC North America, You Should Know
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The large volume of complaints to Household - HSBC Watch concerning transfer of accounts from GECF to HSBC (Household International) suggests lawsuits concerning the issue. It will not be the first time such transfers attracted the attention of regulators and attorneys. We reference the action cited below:
Category: HSBC North America, You Should Know
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