Household HSBC Watch

Still reeling from Household International’s GM Card data loss, HSBC must now contend with Bank of America’s acquisition of MBNA - the largest credit card operation in North America. Bank of America bought MBNA while HSBC is still trying to absorb their purchase of former disgraced predatory lender Household International. There is no comparison between MBNA and Household International, since MBNA did not hve a predatory and borderline illegal mortgage lending business. Meanwhile in the UK, HSBC came in behind Egg in mortgage satisfaction. With high fuel costs and less consumer spending it may prove to be a long summer for the once proud HSBC worldwide organization.

“People are learning that HSBC may mean Household International, predatory credit card operations, questionable private label credit card agreements, or poor security of personal data” said Household - HSBC Watch, a consumer watchdog organization. “We will continue to inform and educate the public across the world” said the group.