Household HSBC Watch

NEW YORK, June 19 - Standard & Poor’s on Monday raised its ratings on HSBC Holdings Plc. and its subsidiaries, citing greater diversification earnings, and stabilization of its consumer finance business. “The upgrade of holdings reflects the increasingly strongly diversified earnings profile and global reach of the well-managed HSBC group, and the reduced […]

NEW YORK (Reuters) - The chief of HSBC Holdings’s U.S. retail banking unit said on Monday he would prefer to expand existing businesses, including branches, rather than pay elevated market prices to grow by acquisition.
Martin Glynn, who runs HSBC Bank USA, also said his unit is faring about as well as big U.S. banks […]

Winston Williams got a call from Beneficial Finance. “I never called them,” said Williams. Known as cold calling and often a violation of the ‘Do Not Call’ registry, HSBC’s Beneficial and Household Finance HFC divisions find it harder these days. Their names are equated with predatory lending and high interest rates. […]

HSBC Retail Services said it has bought a credit receivables portfolio worth around 40 mln usd from Musician’s Friend, the musical instruments direct retailer.

Retail Services, an HSBC Holdings unit which issues branded credit cards in the US, took on the debt portfolio under a five-year agreement which saw it paying a premium of around […]

This customer report is alarming and very revealing. It is consistent with reports since 1994. It also supports charges against HSBC and Household International in Shea vs Household (HSBC). Clearly and without doubt HSBC is lying to this customer. Here is the report:

I feel I am being taken for a […]

China’s fifth largest bank has admitted being defrauded of roughly 200 million yuan (US$25 million). The Bank of Communications (BoCom) in which Europe’s biggest lender HSBC holds shares reported the fraud in one of its branches in Northeast China.

In a news release posted on its website on Saturday, the bank said the fraud, involving […]

Internet users in the UAE are being warned to be on their guard following a massive phishing scam targeting HSBC customers there. The phishing attack follows a reported hacking attack on Emirates Bank and a fraud incident in Dubai, where criminals captured card data and PIN numbers from an ATM using a pinhole camera […]

HSBC will drop the rates on some savings products and business accounts and increase the overdraft rate on all its current accounts. Rates will drop on all cash Isas, Flexible Saver and Instant Access Savings accounts. All business account holders will suffer a drop in their interest rate and overdraft rates are […]

ATLANTA — Saks Fifth Avenue has a new blueprint, and chief executive officer Stephen Sadove is ready to build it. Sadove, presiding over his first shareholders meeting since becoming Saks Inc. CEO in January, said here on Wednesday that the retailer will target a core customer who is 45 to 48 years old, seek […]

Both the Department of Justice and the Internal Revenue Service visited our website today. The IRS researched 1099 C (cancellation of debt) while the DOJ researched ‘HSBC Consumer Alert’. Since both areas are fully researched and documented by our staff we have material dating back to the old days when […]