We enter Barry Rodrigues in the ‘quotable quotes’ section of Household - HSBC Watch for his gloss on HSBC’s subsidiary HSBC Finance Corporation. Leaving out some key points Rodrigues said:
“We are delighted to enter into this agreement with a world-class organization like HSBC,” said Barry Rodrigues, executive vice president of American Express’ Global Network Services. “We look forward to working closely with our newest partner to provide a compelling new line of premium products.”
What did Barry overlook? That his American Express card will be handled and processed by former predatory lender Household International. ( see article ) Look within the world-class organization Barry. Some analysts say HSBC sacrificed reputation for profits when they bought Household International with the intent of exporting the “Household Model” of predatory lending. Analysts also say American Express is in trouble and wants a bigger market share, thus sacrificing cardholders to a predatory lender.
And the main point that Barry Rodrigues left out? That HSBC Finance Corporation still has racketeering, influence, and corrupt organization charges against it. (RICO charges) Appealed all the way to the U.S. Supreme Court and the charges are upheld Barry. Good choice for your customers and card holders pal. Welcome Barry Rodrigues, executive vice president of American Express, to the ‘quotable quotes’ section of Household - HSBC Watch.
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