Household HSBC Watch

Saks and Bon-Ton both decided to use HSBC (Household International) to finance their in-store credit cards. HSBC Watch speculated almost two years ago that Saks was a troubled merchant. “Often when a merchant aligns themselves with a predatory lender they need every dime of profit, no matter how they get it. Saks […]

Sat, Oct. 29, 2005 - - Wachovia Corp., the No. 4 U.S. bank, told its embassy and government ministry customers Friday that it’s sending their business to HSBC Bank USA. The division of London’s HSBC Holdings Plc is helping to transfer the accounts, HSBC Bank USA said. Financial terms of the agreement weren’t disclosed. Wachovia […]

10/25/2005 — Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a company that purchases and manages portfolios of defaulted consumer receivables and provides a broad range of accounts receivable management services, today announced that Kevin P. Stevenson has been promoted to the newly created position of Chief Administrative Officer.

Stevenson has served as Executive Vice President and […]

Oct. 26, 2005–Fair Isaac Corporation, the leading provider of analytics and decision technology, today announced that London-based HSBC Holdings plc (HSBC), one of the world’s largest banking and financial organizations, has implemented Fair Isaac’s Fraud Predictor with Merchant Profiles. The next-generation fraud detection solution will provide HSBC with advanced capabilities for cutting fraud losses and […]

Britain’s HSBC Holdings, one of the world’s largest banks, plans to expand its consumer-finance business into more emerging markets, the Wall Street Journal reported today, citing an interview with HSBC’s No. 2 executive.

“The big theme, I believe, over the next few years in consumer finance is the portability of our model into markets starved for […]

Merger Update
On August 4, 2005, Metris Companies Inc. announced a definitive agreement for HSBC Finance Corporation to acquire Metris in an all-cash transaction. Metris will become a wholly owned subsidiary of HSBC Finance Corporation upon completion of the transaction. The acquisition is subject to certain conditions, including resolution of the potential civil injunctive action […]

Oct. 24 2005 — HSBC North America Holdings’ Business Solutions Group, the commercial arm of the company’s Retail Services business, announced today that it has entered into a strategic alliance to acquire the consumer and commercial credit receivables of OfficeMax(R), one of the leading office supply retailers in the United States. “Our ability to […]

Thursday October 20, 2005 — The Guardian
The country’s biggest credit card companies are resisting demands by the Office of Fair Trading, the consumer watchdog, that they should cut default fees of up to £25 levied on customers who fail to pay their bills on time. Barclaycard, the country’s largest and oldest credit card company […]

When considering recent issues with General Motors, identity theft and the GM credit card, combined with the high cost of fuel and slowdowns in the auto industry, one must ask if General Motors is considering the sale of General Motors Acceptance Corporation and GMAC’s residential mortgages. Intelligent minds conclude that GM would not turn […]

CSR Wire - Corporate Social Responsibility Newswire Service - sounds good doesn’t it? And it is, said HSBC Watch consumer advocates, but the fox is in the hen house according to the group. Let’s examine this:

Publish date: 10/18/2005
Press release from: HSBC
(CSRwire) PROSPECT HEIGHTS, Ill. – A new survey by HSBC – […]