Household HSBC Watch

A person who communicates with us quite often sent this latest update concerning his battle with HSBC: “In my on going battle against HSBC it seems it is beginning to heat up. The government works slowly but sometimes it works.

Please be advised that today April 22nd, 2008, I did receive a letter from the offices of the Comptroller of Currency, Administrator of National Banks. In Short the letter states that OCC has sent an order to HSBC to resolve this matter. This order is in fact based on review of the loan documents and the 3 Right to Rescind notices and the letters from HSBC stating that they denied the rescind notices in violation of the law. Based on the letter in hand HSBC has thirty days to respond.

In addition to documents being faxed to OCC, I was asked by OCC as to what I considered as restitution in this matter. I stated that by action of the law and in HSBC failing to respond to a legal and valid Right To Rescind notice, the states that I am no longer required to pay any additional fees or payments and the property rights solely rest we me and my wife. I also stated that as allowed by law, all legal fees and attorney fees will be paid by the lender, that all fees paid from the inception of the until such time as the right to rescind notice was sent would be returned including all closing costs, and that the statutory damages and fines be applied equal to $640,000.00.

I did not request any punitive damages as OCC is not empowered to apply such penalties. But if court action is required I will seek these damages as well.

HSBC has to, in writing, inform me as to what actions if any they are willing to take. It is also being ordered to send a copy of the reply to OCC, Customer Assistance Group of OCC.

If no action is taken by HSBC or if HSBC fails to respond to the order from OCC, I am to notify OCC that either HSBC has failed to respond or that HSBC has made an unacceptable offer in settling this issue. It has also indicated that If I disagree with any offer I need to inform OCC within 60 days of receipt the offer and to send any additional information that will assist OCC and taking any actions required. OCC has clearly indicated that it is the agency responsible for overseeing HSBC.

For those who wish to add their complaints against HSBC the following is the proper point of contact:

Customer Assistance Group
131 McKinney Street
Suite 3450
Houston, Texas 77010-9050

Telephone numbers are:
Phone: 1-800-613-6743
Fax: 1- 713-336-4301

Website www.helpwithmybank.gov”