Household HSBC Watch

0846 GMT [Dow Jones] US federal judge blocks a proposed $360M settlement of a class-action lawsuit filed in Chicago against HSBC Holdings (HBC) unit HSBC Taxpayer Financial Services, and H&R Block related to refund anticipation loans, H&R Block said Fri. HSBC not immediately available to comment. “Could the settlement turn out to be larger? Potentially,” […]

Lea Verny, head of investment banking at HSBC Russia, left the bank last week, having become the 12th top manager of the bank resigned during half a year. The experts say such numerous resignations signal that today’s bosses of Moscow HSBC don’t embrace the stake on large corporate clients in Russia.

A foreign bank with […]

LONDON (Reuters) - Global bank HSBC said on Tuesday it was keeping a close eye on the credit quality of retailers, retail suppliers and housebuilders as weakening consumer borrowing in the UK and abroad threatened to bite.

“If and when HSBC looks at retailers formerly under control of Household International they will clearly see some troubled […]

Published: May 28, 2005 By Reuters
A federal judge yesterday rejected the $360 million settlement of a lawsuit accusing H&R Block, the tax preparer, and HSBC Taxpayer Financial Services, a consumer lender, of deceiving poor customers into taking out high-interest loans. Judge Elaine E. Bucklo of the United States District Court in Chicago said yesterday that […]

Is HSBC RS and HSBC NV showing up on your credit report and you don’t know who they are? The truth is they are HSBC Bank’s subsidiary, owned by a holding company of HSBC. They are former predatory lender Household International, now part of HSBC Bank. Demand a copy of the […]

When Ms. Marshall got a $6,000 home-improvement loan from a credit union in April 2003, she had to pay relatively high interest because of a weak credit score. The credit check had showed a court ruling ordering her to pay overdue rent to a former landlord in a Washington, D.C., suburb. But the judgment […]

In a California settlement for Californians only, The Court has certified a class and preliminarily approved a settlement in a case called UCAN v. Household Credit Services, Inc. In this lawsuit, plaintiffs claim that Household Credit Services, Inc. (”Household”) now known as HSBC Card Services Inc. improperly disclosed customers’ confidential information to third parties, […]

David Fleming, national officer for the union, said staff were striking because a “derisory” pay offer had been imposed on them. “We regret any inconvenience to customers but the efforts we have made to resolve this dispute have fallen on deaf ears. The bank has simply refused to listen to its staff.”

Should David […]

“At present, HSBC does not expect to close any branches’’ because of the strike, said spokesman Richard Lindsay in an e- mailed statement yesterday. “The bank does not expect any disruption to telephone, internet or ATM banking services.’’

Not to worry, said consumer watchdog organization Household - HSBC Watch.
“If you want disruption of service it […]

Barclays warned yesterday of falling profits in its credit card division due to customers missing repayments and increasing bad debts. The news, from the country’s biggest credit card lender, confirmed fears of a severe downturn in consumer confidence and left banking shares among the biggest losers of the day.

“This comes at a time […]