Household HSBC Watch

The opinion section of the Santa Cruz Sentinal published this commentary. Bankruptcy reform is another issue favored by predatory lender HSBC and subsidiary HSBC Finance Corporation which was the old Household International. Here is the commentary:

If Congressional Republicans want to convince Americans that they understand the working classes, they should back off from proposed legislation backed by credit card companies.

The legislation would make it tougher for consumers to wipe out debt through bankruptcy.

We agree that declaring bankruptcy and escaping debt isn’t a wise approach, but the new legislation does nothing to reform current practices by credit card companies that have actually encouraged debt.

The credit card companies are guilty of aggressive marketing practices that practically invite unsuspecting consumers to pile up increasing debts.