Consumer watchdog organization Household – HSBC Watch wants to clarify a question commonly asked on their consumer hotline. “Many people don’t yet realize that HSBC Finance is the former troubled and disgraced predatory lender Household International” said the group. “But if they are on our web site and calling our hotline they just started to figure it out. Our hearts go out to them.”

Yahoo Finance said:

HSBC Finance is the bouncing baby lender of Household International and Household Finance Corp. The two merged and then underwent a name change in 2004 following their acquisition by UK financial services biggie HSBC Holdings a year earlier. The merger was a giant step in HSBC’s effort to unite the majority of its US and Canadian businesses under one name: HSBC North America Holdings Inc. The offspring provides primarily middle market borrowers with secured and unsecured loans, and credit cards and insurance products through affiliate companies. Its subsidiaries, HFC and Beneficial, retained their names, but now carry the endorsement tag, Member HSBC Group.

A subsidiary of HSBC North America Holdings, Decision One Mortgage is a wholesale lender specializing in non-conforming residential mortgage loans.

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