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 a quote we find interesting. “We are one of the largest law firms with offices in London and HongKong”
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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:
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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 transaction as a ’sale’ prior to a positive announcement and a ‘purchase’ after it,” the regulator said in a statement.
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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 they take from shoppers and they won’t even give back £1 a week for the pleasure and spirit of the residents who pay their mortgage and bills.” said Patel.
Meanwhile on December 1,200 HSBC reported record profits across all divisions according to the Shanghai Daily. HSBC and Shanghai Daily? Why not – your HSBC is actually the Hongkong Shanghai Bank Corp.
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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 dating back almost 3000 years” said one insider.
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Legal Info
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We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
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