Household HSBC Watch

Kudos to The Guardian for this article. As bad as finances are in the U.K. we found out that executive perks at HSBC remain untouched. The TUC PensionWatch report identifies a senior HSBC finance director who ‘receives an executive allowance of 55 per cent of annual basic salary to fund personal pension arrangements’. […]

It seems like the Irish are not the only HSBC employees losing jobs. HSBC’s Livingston call center is closing. The bank said that although the staff would hopefully be absorbed within the company’s Scottish workforce it is no longer cost effective to keep the West Lothian location open. HSBC admitted that some […]

In another move designed to alienate customers HSBC will stop paying interest on current accounts. Not satisfied will aggravating customers in the United States with computer malfunctions that delayed direct deposits, HSBC found a way to anger even more customers. It is a trait learned from HSBC Finance. Granted, not paying […]

there was no warning and HSBC will contact existing customers. This is just in, thanks to a report that called our attention to the matter. “HFC Bank Ltd has closed its operation to new customers in the Republic of Ireland with effect from August 28th 2008. Existing customers can contact Customer Services on […]

Bankruptcy laws were changed and strengthened in 2005. Then greedy banksters, mortgage brokers, and lending companies felt safe. They could do whatever they wanted to do, since it was harder to declare bankruptcy. Nationally, the total number of bankruptcies filed in the first half of 2008, however, rose 29.2 percent, to 522,205, […]

In the US Banker section of American Banker, we spotted an interesting line: “The concern was, ‘How much subprime do you do? What is your risk of having what Household (International) had?’” It was a question asked of Richard Davis, CEO of U.S. Bancorp, in February 2007. HSBC bought Household in […]

This is published exactly like we received it. TG in California said: “I’m a happy and proud employee of HSBC in California. I see the positive impact we make on our customers lives every day. I regularly read postings on your site and am stunned and the lack of accuracy and fairness here. […]

The difficulties of operating in unstable emerging markets was demonstrated this month when HSBC, amid an invasion by Russian forces, removed the family of its chief executive in Georgia from Tbilisi, two months after the bank’s $17 million start-up in the city had opened. HSBC said that it remained committed to operating in Georgia. […]

NEARLY half of all mortgage shoppers use the Internet to do research on mortgages. If your research got you to this website you have reached Household - HSBC Watch consumer advocates, a watchdog organization not affiliated with HSBC in any way. You are doing your homework, however, and digging deeply. Perhaps HSBC […]

This is a perfect example of HSBC’s exportation of the Household International model of doing business. Credit card interest rates have been increased to as high as 50 percent in India. While proud of making a profit in developing nations HSBC is not alone. ICIC, Deutsche Bank, SBI and HSBC have either […]