Household HSBC Watch

May 22, 2005 - HSBC has just published a global study, The Future of Retirement, which found that many people no longer viewed retirement as the end of their working lives and the beginning of a period of leisure and relaxation. Instead, most hoped to continue work in some form or other — what they wanted was to step back from the rat race.

“We invite all Internet visitors to see Household - HSBC Watch, a website which shows the devestating effects of predatory lending, especially from HSBC’s Household International” said U.S. watchdog organization HSBC Watch. “For many, the dream of retirement disappeared due to needless trickery and schemes. Take the case of Madie Wilson for example” said the group.

Florida began investigating Household International, after Madie Bell Wilson, 89, was evicted from her Miami home. She had taken out a $27,000 home-equity loan, thinking it was a home repair grant that did not have to be paid back. The case piqued Florida officials’ interests and helped lead to the $484 million multi-state predatory lending settlement.