Household HSBC Watch

Once again HSBC attracts attention somewhere while trying to get away with something. This time it is not in the Unted States, where HSBC Finance seems to attract more attention than the rest of HSBC around the world put together. GRTU is accusing HSBC and BOV of “abusing their dominant market position and acting collusively together local banks, in a de facto cartel.” with regards to the withdrawal of MasterCard interchange charges on retailers who accept payments by customers on MasterCard Credit Cards. GRTU’s statement concluded that it expects the Office of Fair Trading, the Malta Financial and Services Authority and the Ministry of Finance the Economy and Investment to intervene.