Household HSBC Watch

Thousands of university graduates have been left out of pocket after HSBC broke a promise of interest-free overdrafts and started charging bank fees. High street bank HSBC offered students an overdraft of up to £1500 for the first 12 months after leaving university without being charged an incentive to bank with them. Under the […]

Here is positive proof that a person can be successful after running a subprime operation for HSBC while losing billions of dollars. Originally with Household International, which was charged with predatory lending and later purchased by HSBC, many thought Siddarth (you can call me Bobby) Mehta was in over his head. Mehta was […]

Barclays faced fresh embarrassment yesterday over its £314 million emergency loan from the Bank of England, when HSBC, its rival, furiously denied that an error by its bankers had forced Barclays into the red. Meanwhile, it emerged that Britain’s biggest high street banks have more than $120 billion (£60 billion) worth of exposure to the […]

We have many questions lately about an article we ran a few days ago. According to insiders there have been layoffs at two HSBC locations. Reports are still unconfirmed, thus you should consider this to be rumor or speculation until we see it in the news. Here is what we were told […]

Agnes Mouser is a 65-year-old widow who works in the records department in a Houston prison. In 2000, she sought to pay off her credit-card debt with a loan from Beneficial Finance, which sent an appraiser to assess the value of her home.

“A real nice young man came out to see me,” Mrs. Mouser recalled. […]

Reporter John Stark of the Bellingham Herald has been monitoring Household International and HSBC almost as long as we have here at Household - HSBC Watch. A consumate professional, we’ve talked with Mr. Stark from time to time over the years. That’s why an article published this morning in the Bellingham Herald […]

It was inevitable and we talked about it since 2002. HSBC bought predatory lender Household International in late 2002 and finalized the purchase in early 2003. Name liability and associating HSBC’s name and reputation with shady lender Household International was not wise. Ignoring the obvious, HSBC started to become associated with income […]

I like the statement by First Premier which says they did the same thing others were doing, and it was commonly accepted in the credit card industry. Here is the article:

NEW YORK, Aug 15 - First Premier Bank agreed to refund $4.5 million to settle a probe into the marketing of […]

Aug. 15 — Asian stocks trading in the U.S. fell to their lowest in nine months on concern mounting losses from the credit markets will reduce earnings. HSBC Holdings Plc declined $1.17 to $87.18. The company, which controls two of Hong Kong’s largest lenders, took over Household International Inc., a U.S. subprime […]

An HSBC insider reported today that “HSBC / HFC / Beneficial laid off approximately 450 people today.” The report came from New England. We have not confirmed this report with a second source, and no supporting information can be found in Google News. More to follow.