Household HSBC Watch

Published: Friday, March 31, 2006 15:32 (GMT -0400)
First HSBC bought stained U.S. predatory lender. Now HSBC is paying much more for only 20 percent of a Mexican finance company.

The Mexican banking arm of UK-based HSBC (NYSE: HBC) on Friday said it would pay 700mn pesos (US$65mn) for a 19.99% stake in consumer […]

Binding arbitration is one thing, but oppressive binding arbitration is quite another. One would expect oppressive action from the nation’s biggest predatory lender - Household International - and now HSBC. Note the ‘no class action’ clause! Here is the state court and supreme court opinion, summarized for clarity:

The facts of Mandel and […]

North America’s retail services business (NYSE:HBC) has extended its long-term agreement with Art Van Furniture to provide a private label credit card program. Ranked 12th in Furniture Today magazine’s “Top 100 U.S. Furniture Stores,” Art Van operates 29 stores in 28 cities throughout Michigan.

Since 1980, HSBC and Art Van have partnered to offer Art […]

Yesterday at Spring VON 2006, CompUSA announced its partnership with Bandwidth.com and Sylantro Systems to offer what it called the first full-featured hosted VoIP service for small and medium-sized businesses in the retail industry. Target audiences will be businesses in need of 10 to 200 lines. Silly, because no matter how much […]

This information is subject to change in the future, but while investigating problems with HSBC online payments we decided to try variations of the domain name. It turns out www.hsbcaccount.com is registered in China and has little to do with HSBC or one’s ability to pay their bill online. In fact the site […]

In Shea v Household (HSBC) it was alleged that customers of HSBC sent payments by mail and those payments were credited one day late. Shea v Household covered 1994 through 2004. HSBC bought stained predatory lender Household International in 2002, finalizing the deal in early 2003, thus HSBC Bank plc bears responsibility for […]

The 30-day past-due rate for subprime loans rose from 5.4 percent to 7.1 percent during 2005, ending an eight-year drop, federal data shows. The foreclosure rate for subprime loans, meanwhile, was nine times higher than the prime-market rate last year. RealtyTrac, which tracks foreclosures nationwide, reports that the number of properties entering some stage […]

H&R Block, Inc. has been accused of securities fraud. If you are a member of any of their investment plans or profit sharing retirement plans and purchased or held the Company’s stock in one of those plans during the periods January 31, 2005 to March 14, 2006, you may have a claim.

Block is HSBC’s […]

HSBC’s Global Transaction Banking Services business today announced it will provide clients a centralized-secure payment service across Canada, the United States and Mexico. The payment service from one of the world’s largest financial institutions is geared toward clients that need to make payments to trading partners within North American Free Trade Agreement (NAFTA) countries. It […]

Three years after passing a law intended to curb predatory mortgage lending, the Kentucky General Assembly effectively undid that law yesterday. But legislators disagreed — as do bankers and consumer advocates — on whether the latest action will harm borrowers. The House of Representatives voted 79-16 to enact Senate Bill 45, […]