Household HSBC Watch

A look back at 2005 shows HSBC Finance Corporation’s merchants for what they really are. Ever wonder why this bumbling group of merchants decided to align their customers with a predatory lender such as Household International? Through questionable credit card processing, first with Household International and now with HSBC Finance Corporation (they […]

Becky Barrow, Daily Mail, 19 December 2005
BRITAIN’S biggest bank has slapped a ban on rival customers at peak times. HSBC has put up signs in its 1,500 branches warning that other account holders will not be served between 11am and 2pm.

It insisted yesterday that the unprecedented move was meant only to improve the service […]

A former Buy Buy executive is now CEO of Circuit City, as Circuit City turns from losses to profitability. That’s one CEO that knows not to align his Circuit City customers with predatory credit cards and predatory lending. The Best Buy credit card is managed by Household Internaitonal but the new name of […]

Facing the rising tide of dissent over purportedly racist lending practices this summer (2005), Wells Fargo head Richard Kovacevich told Bloomberg news: “We are responsible lenders, and we price for risk; we don’t price for race. We don’t do predatory lending. And the American consumer is better off that we take that risk. We just […]

Tuesday, 06 December, 2005
Mr Dyfrig John, who served as an Executive Director with HSBC Bank Malta p.l.c. until May of this year, has been appointed as Chief Executive Officer at HSBC Bank plc. in the U.K. The appointment follows Wednesday’s announcement that Group Chairman, Sir John Bond, will be retiring in May 2006. Sir […]

A Tuesday night episode of Boston Legal exposed the credit card industry for what they really are. When any industry goes beyond what is reasonable and prudent in the interest of profit it is a travesty. Boston Legal put the industry on prime time for what they really are, but the show contained […]

HSBC may be involved in more fraud. They claim they monitor mortgage fraud but this one suspects they may be perpetrating it instead. Here is a customer report:

I received a 1099c yesterday for $68,000.00. It says that if the cancellation of debt was through bankruptcy, you do not have to pay taxes on […]

LONDON (Reuters) - Britain’s Financial Services Authority (FSA) said on Wednesday it had fined global bank HSBC 100,000 pounds for failing to ensure the accuracy of transaction reports from its stockbroking unit.
“In July 2005 the FSA requested certain trading information from HSBC Stockbroker Services (HSS) which, when reviewed, revealed that HSS had reported the client […]

TOP firms which have refused to donate £50 to a town’s Christmas lights display have been criticised. Petts Wood Business Association secretary Ken Patel says he is amazed by the lack of Christmas spirit shown by the branches of nationwide companies. So far HSBC has not donated a penny. “For all the money […]

Hang Seng Bank is a cash cow for HSBC Bank, headquartered in London. Hang Seng Bank is also the only part of HSBC that does not carry the HSBC logo. “Hang Seng Bank generates so much cash and profit for HSBC that HSBC is afraid to mess with success that has roots […]