PROSPECT HEIGHTS, Ill., April 20 /PRNewswire/ — HSBC - North America announced today the appointment of Bruce Fletcher as senior vice president and chief credit officer for retail credit for HSBC North America Holdings Inc. In this capacity, Fletcher will serve as chief credit officer and will oversee and integrate retail credit risk management for all of the company’s North American entities. In addition, he will serve as chief credit officer for HSBC Finance Corporation, formerly Household International, Inc. He will report directly to Dave Gibbons, senior executive vice president and chief risk officer.
Archive for » April, 2005 «
Category: 05 All Articles, 05 HSBC - U.S.
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In late April, television commercials touting Yamaha’s for as little as $39 per month are a poor deal for the consumer and a great deal for HSBC (Household International). Similar to Suzuki financing, in some cases if nothing goes wrong, it will only take 18 years to pay off that new Yamaha or Suzuki. See Household - HSBC Watch’s analysis of this financing here. “Remember that most of these accounts are daily interest credit card financing, not vehicle financing” said Household - HSBC Watch.
The BTK killer worked as a compliance officer before he was captured. He was also active in his church. “Although people have the perception that compliance officers are eager to make sure companies toe the line, the BTK killer reinforces the fact that these people they are just people. Some believe compliance officers go to work and put forth little effort which may be the case with some predatory lenders” said a member of Household - HSBC Watch consumer advocates.
Category: 05 All Articles, 05 Insider, 05 Regulators
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April 22, 2005 10:12:00 AM ET, CHICAGO (Reuters) - Costco Wholesale Corp. (COST) on Friday said earnings for the rest of its fiscal year would likely miss Wall Street forecasts because of weaker profits from gasoline sales, sending its shares down 9 percent. “Predatory lender HSBC Finance Corporation backs the Costco credit card. They are the old Household International” said watchdog group Household - HSBC Watch. “Gasoline is not Costco’s only problem when they burdon customers with a predatory credit card such as the Costco Card.”
Category: 05 All Articles, 05 Private Label
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President George Bush signed the new bankruptcy bill into law today, April 20, 2005. Bush already signed a landmark bill that makes it easier for defendants to move multimillion-dollar class action lawsuits to federal court. Playing directly into the hands of predatory lenders such as William Aldinger’s HSBC (Household International) Bush fails to realize the effects of predatory lending. “It is a known fact that many Americans are one severe medical illness or catastrophy away from bankruptcy” said advocacy organization Household - HSBC Watch. “Bush played right in to the hands of big business while sacrificing the average hard working American. Any legislation backed and supported by predatory lenders such as the former Household International should never pass, but it is too late now” said the group.
