Household HSBC Watch

From: Inc. Magazine, December 2003 | Page 90 By: Martin Mayer

When the United States invaded Afghanistan, the armed forces needed a great deal of infrastructure support, everything from electric generators to water purifiers to road-repair machinery. Among the companies the government contracted to supply such things, and get them to where they were […]

Responding to the diversity of HSBC and complaints relative to HSBC operations around the world, watchdog organization Household - HSBC Watch increased forum and complaint capacity while adding HSBC India to their line-up. Originally designed to monitor former disgraced predatory lender Household International, HSBC Watch expanded as HSBC Bank plc bought Household International in […]

When merchants outsource or sell their credit card receivables many factors should be considered. Clarity of policies, timely statements, timely crediting of payments, a functional online payment website, and the ability of the credit card processor to insure credability and confidence are prime considereations. Household Retail Services, now called HSBC Retail Services, fails […]

By Nov. 1, 2005, Bon-Ton it will phase out its corporate credit center and eliminating some 84 jobs. The Bon-Ton Stores Inc. operates several stores in the Buffalo area, among 139 department stores and two furniture stores in 16 states from the Northeast to the Midwest under the Bon-Ton and Elder-Beerman names. […]

06.22.2005, 02:10 AM - HONG KONG (AFX) - HSBC Holdings PLC said its retail services division is to acquire the private label credit card accounts and related assets of US retailer Bon-Ton Stores. In a statement, Bon-Ton said HSBC will pay it the outstanding balances associated with the accounts including a premium. It […]

By John Leyden, Published Thursday 23rd June 2005 10:13 GMT: An undercover reporter was able to buy the details thousands of UK banking accounts, password particulars and credit cards numbers from crooked call centre workers in India, The Sun reports.

The paper says one of its journalists bought details of 1,000 UK banking customers from […]

When a consumer disputes credit information on his or her credit report, the three major credit bureaus, Experian, formerly TRW, Equifax, and TransUnion, must notify each other of the reinvestigation. In the past, it was the consumer’s responsibility to notify each bureau. As of 1997, credit bureaus are required to use information supplied by […]

DH in Ohio said “I applied for a car loan with household auto in july of 2001. The inquiry never appeared on my credit report. I believe that they gave me an unfair interest rate. I have called and they told me that they used Equifax. This inquiry is not on any old Equifax reports.”

“Now […]

Combining HSBC’s prime and subprime units, over 32 percent of HSBC’s mortgages are higher cost, subject to a rate spread. This is inconsistent with HSBC’s claims, at the time it acquired Household International and since, that only a small part of its mortgage loans are subprime. Sir John Bond said that 63% of Household’s […]

ICP has raised to the federal Office of the Comptroller of the Currency the fact that the mortgage lending data filed by HSBC for its ex-Household units HFC, Beneficial and Decision One, all point to the OCC as the regulator of these companies. Each has been state-regulated; HFC and Beneficial are subject to a […]