Household HSBC Watch

Here are the most recent complaints about HSBC, as submitted to Household - HSBC Watch by customers from around the world. Complaints, some of which read like horror stories, are listed by title with a direct link to the submission:

HSBC Orchard Bank - Rep Claims No Affiliation
Customer Claims HSBC Holds Payments Until Late
Customer Claims […]

The announcement that CompUSA is closing 126 stores signals another troubled merchant in the HSBC credit card private label program. HSBC Finance Corporation, which is also involved with troubled sub-prime mortgages, provides the CompUSA credit card. As customers complain about poor credit card servicing some experts maintain HSBC is responsible for CompUSA customer […]

Here is an interesting HSBC article from London:
Britain’s biggest bank is diverting poorer customers to foreign call centres while more profitable clients are dealt with in the UK. HSBC has admitted filtering calls from its 8.5million customers with current accounts and transferring them after assessing factors such as monthly income and credit rating.

The […]

Standard & Poor’s Ratings Services said Friday it placed H&R Block on credit ratings watch for a possible downgrade, citing potential trouble for the company’s mortgage lending unit amid a crisis in the subprime market.

“Upheaval in the subprime mortgage market has depleted the results” of Block’s Option One Mortgage Corp. unit, S&P said.
H&R Block’s Option […]

Shares of HSBC Holdings have extended their four-month losing streak amid concern that a crisis in the U.S. mortgage industry will erode earnings this year. HSBC’s stock has fallen every month since November, when the bank — the largest in Europe — said bad debts in the United States were rising. The stock fell […]

Why is this important? Because William F. Aldinger is on the board of directors at AT&T, and was also CEO of Household International, and Chairman and CEO of HSBC USA. HSBC has the same mandatory binding arbitration, and William F. Aldinger has his law degree and thus would advise AT&T in some capacity. […]