“Nearly $2 billion in tax credits earmarked for low-income workers instead went to businesses that offer high-interest loans against pending tax refunds (Rapid Refunds, RAC’s and RAL’s), according to a new study by the Brookings Institution and the Progressive Policy Institute…. Fees on those loans amount to annual percentage rates of 67% to 774%, according […]
A Guardian report from June 2003 is added to our ‘You Should Know’ category:
“It was a spell-binding moment when office cleaner Abdul Durrant stood up at last week’s HSBC annual general meeting and asked if cleaners at the bank’s Canary Wharf headquarters could be paid more than £5 an hour. It was not, he said, […]
“Millions fail to pay debt before 0 per cent offer ends, says Harriet Meyer” said one article. “How no-interest credit deals can cost you more” said another. Examples given include people who forgot to transfer their balances again, and still others who failed to pay off their balance before the “no-interest” period […]
Marks & Spencer has warned that, because of poor Christmas trading, its annual profits would fall at least £50 million short of forecasts. HSBC announced that HSBC Finance Corporation, a subsidiary of HSBC would manage credit card operations for the troubled retailer. U.S. consumer advocacy organization Household - HSBC Watch said many […]
This short report was received by Household -HSBC Watch on 7 January 2005:
“They keep changing my address to a previous address, and I’m not receiving my bill. I’ve called three times to correct the problem and they say it is fixed each time. Is it really that difficult to update an address? ”
This one is […]
Active duty service members are reporting an ongoing problem with HSBC - Household International, according to watchdogs at Household - HSBC Watch. Reports received for the last four years indicate problems with receiving statements and bills following a PCS (permanent change of station) move. Reports indicate that the service members generally receive all […]
The following report was received at Household - HSBC Watch. Enough of these reports were received in the last 60 days to indicate that this is a new trend on the part of HSBC (Household). This consumer did exactly what GE told them to do. Hopefully states attorney’s general will take action, […]
The document is “The History of Predatory Lending With an Emphasis on Household International and HSBC Finance Corporation.”
It is available at www.predatoryloan.com to registered users. Registration is free and takes about one minute. The document is 20 pages long and is written as a lesson plan for educators.
Before you apply for that rapid refund, RAC or RAL from H&R Block, read what a collections adjuster says. Learn what happens to your personal information. See how predatory lender Household International - HSBC Finance Corporation might handle your data. The article is located here.
I Have Been With HSBC since 1999. I took out a loan of $10,000 for my small business because I was injured & was recovering From Neck Surgery. I Needed To Keep My Small Business Alive.
My balance Is Over What I Started At. I Owe $10,800.00 in January 2005. Now I’ve Been […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.
