Household HSBC Watch

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 – North America finds….

And now the truth: The press release is from HSBC Finance corporation in Prospect Heights Illinois, which is the old Household International. Well known for predatory lending, SEC actions against them, late fees, questionable billing, and other possibly shady actions (see our forums) which continue today under the HSBC logo, we are appalled to see them using CSR Wire.

Whether called Household International - which they don’t want - or HSBC, this once shady lender obviously paid to access the Corporate Social Responsibility Newswire Service. The two do not go hand in hand. At HSBC Watch we received three HelpLine telephone calls this week alone regarding foreclosures under shady circumstances. Just ask Acorn about Household International, AKA HSBC Finance Corporation, AKA HSBC Holdings.

You can contact CSR Wire in this manner
CSRwire
250 albany St,
Springfield MA 01105
United States
Tel: (802) 251-0110
Fax: (413) 737-4357

Household and HSBC also use PRNews Wire. Most of their press releases are self serving, bordering on advertising or a pat on the back. Intelligent minds question the social responsibility of HSBC’s consumer lending division, a troubled division that had problems since 1994 as Household International. Had HSBC not purchased Household International, suits, settlements, bad publicity and bad business would have put them out of business. It is bad enough to see them hiding behind the HSBC logo, put to issue press releases behind a mask of corporate social responsibility is disgusting to many.