On May 26, 2005, more news about General Motors (GM) and their troubles added fuel to the fire. GM already tasks predatory lender Household International, now called HSBC Finance Corporation, with processing and handling the GM credit card. Missing records and identity theft issues were traced to the GM card. “Our point is this” said Household - HSBC Watch. “If GM sells their mortgage business to HSBC, which is actually the disgraced and highly predatory Household International, it will put GM out of business. It is every home owner’s nightmare if their loan is sold to a predator, and GM has no more room for forgiveness after the GM card disaster” said the group.
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