Household HSBC Watch

THREE City bankers accused of a £3.9m fraud face trial in the US after the Home Secretary ordered their extradition. Charles Clarke has ruled that they should be tried in a court in Texas, where they could be jailed for up to 35 years. His decision has huge implications for Britain’s legal system. It was made under controversial legislation allowing the US to prosecute Britons for crimes allegedly carried out in this country.

“This decision has huge implications and gives HSBC cause for concern about Household International. Shady tactics and racketeering by the predatory lending subsidiary, at a time when HSBC exports the lending model abroad, means HSBC must rein in and control their subsidiary” said HSBC - Household Watch. Household International is now called HSBC Finance Corporation which is part of HSBC Holdings.