Complaints increase as HSBC raises money in the U.S.
As HSBC seeks to raise money in the United States, primarily through HSBC Finance, the number of complaints continues to rise. Advocates at Household - HSBC Watch say the number of complaints received on a daily basis is at the highest in five years. Disappointment with HSBC credit cards and merchant credit cards operated by HSBC, as evidenced by an ongoing poll at Household - HSBC Watch, is running 60 percent negative.
“We process each complaint by hand are we are experiencing a backlog of about 30 complaints not yet published” said a member of the advocacy and watchdog program. “If extra volunteers are available this weekend we can cut the backlog substantially” they said. Complaints are received from almost every state in the country. Last year 227 complaints were received, complied by state, and forwarded to the National Association of Attorneys General. Currently HSBC Finance - formerly predatory lender Household International - is modifying customer contracts with no reason given, and they are seeking modification of a contract between HSBC and Neiman Marcus.
“We suspect that many complaints alleging late application of payments are true, since credit card holders are not allowed to sue and must use binding arbitration. The practice has been going on since 1994″ Household - HSBC Watch said.
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[…] Complaints increase as HSBC raises money in the U.S. Complaints increase as HSBC raises money in the U.S. As HSBC seeks to raise money in the United States, primarily through HSBC Finance, the number of complaints continues to rise. Advocates at Household - HSBC Watch say the number of complaints received on a daily basis is at the highest in five years. Disappointment with HSBC credit cards and merchan… Read the full post from Household HSBC Watch Tags: 2007 HSBC via Blogdigger blog search for money. […]
[…] Complaints increase as HSBC raises money in the U.S. Complaints increase as HSBC raises money in the U.S. As HSBC seeks to raise money in the United States, primarily through HSBC Finance, the number of complaints continues to rise. Advocates at Household - HSBC Watch say the number of complaints received on a daily basis is at the highest in five years. Disappointment with HSBC credit cards and merchan… Read the full post from Household HSBC Watch Tags: 2007 HSBC via Blogdigger blog search for credit+cards. […]