Soaring gas prices are turning a record number of Americans into credit-card deadbeats. Credit card delinquencies – that’s bills overdue by at least 30 days – reached a record high of 4.81% of accounts in the three months ending in June, the American Bankers Association announced yesterday. That’s compared with 4.76% in the first three months of the year.
Popularity: 9% [?]
September 29, 2005 Credit card delinquencies shot to a record high in the second quarter, as consumers tried to keep up with rising gas prices and increasing interest rates without curtailing spending, a report showed yesterday. The percentage of credit card accounts that were 30 days or more past due rose to 4.81 percent during the April to June period, up from a revised 4.76 percent in the first quarter, the report from the American Bankers Association found.
Popularity: 17% [?]
From the Columbus (Ohio) Dispatch of September 21: “HSBC lobbyist Van Doorn, who fought stricter state oversight three years ago, said, ‘There’s no question that the regulations could use some tightening.’ He said Ohio’s predatory-lending law was an important step, but, ‘We’re light years ahead of where we were’ when it passed in 2002. Shortly after, HSBC’s Household International settled federal deceptive-lending charges for $484 million.” Light years in deception and misdirection, perhaps. Meanwhile the export of Household’s predatory practices continues apace. Now HSBC plans to sign a preliminary deal to buy Korea Exchange Bank soon, in a deal that could cost as much as $6.5 billion, the Korea Times reported in its Sept. 22 edition. HSBC was in talks with U.S. equity fund Lone Star, which owns a controlling 50.5-percent stake in KEB, to buy the South Korean bank, the newspaper said citing an unnamed HSBC executive. “There will be an announcement on the merger talks soon,” the executive was quoted as saying.
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By Kim Yon-se – Staff Reporter
HSBC has not paid the taxes due on tens of billions of won it gained as a result of transactions of shares in 2002 and 2003 in a small Korean company via its equity fund, officials from tax agencies said.
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We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
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