Household HSBC Watch

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, and that it misrepresented to consumers the scope and nature of its customer privacy policy. Plaintiffs allege that these disclosures violated California law and Household’s privacy policy. HSBC will pay $1.4 million.

“This settlement puts William F. (Bill) Aldinger’s suits and settlements through May 2005 at US$2.594 billion dollars and still counting” said a member of Household - HSBC Watch. “A legacy which represents a loose attitude and the history of predatory lending, certain to impress the next future employer of Mr. Aldinger should there be one” said the group. “Not the track record for future consider on a board of directors either I’m afraid” they also said.