Household HSBC Watch

Holding companies that own other holding companies - a great way for HSBC to confuse American consumers and US regulators. Look at this press release:
“”HSBC Holdings plc’s HSBC - North America Launches Private Label Credit Program For Helzberg Diamonds (October 20, 2004) — HSBC Holdings plc announced that HSBC - North America’s retail services business has launched a private label credit card program for Helzberg Diamonds, a company involved in the fine jewelry business”"

What does it really mean? HSBC in London, which owns HSBC North America, which owns HSBC Finance Corporation, — which is Household International — will give you a Helzberg credit card, subjecting you to predatory lending tactics and the many complaints you see in our forums, such as applying your payment after it is late.