We received this report today. That is all we are going to say about the origin.

“I am unfortunately a current employee of HSBC working in the HFC division. Let me say that I apologize to all of you out there that have unknowingly fallen into the hands of this evil company. As I have read through this site I can tell you that much of what I have read is undoubtedly true. I was unaware of their illegal and unethical, morally incomprehensible practices prior to working for the company. Here are a few of the practices I have seen that are illegal:

Approved personal loans go unfunded or severely delayed if a customer opts not to take at least 2 of the “optional” credit insurances

A Branch Manager telling customers on the telephone to ignore the RESPA disclosures they receive in the mail as they are not accurate and can come into the branch to review options if they have questions

This is unconfirmed however I was told by a Branch Manger that when mailing the RESPA disclosures to a customer that the company does not mail out a TIL. Again this is unproven but what I was told. The sad fact is that if it is sent out the Branch Manager doesn’t know and probably could not identify the form, why it is issued or explain the document.

HFC has a terrible business practice and HSBC is at fault for not shutting them down completely. I am in the process of seeking a new job after only a very, very, very short time on the job. I am amazed (not in a good way) at the business practices and regret the day I walked through the door.

I have a conscience and when I leave the office at night I am not relieved rather I am saddened and feel drained. I am sad and miserable as I see the fate of many flushed away due to this atrocious company that the government seems to overlook. Please, spread the word and be warned. When you apply for that store credit card or online financing that you may be walking right through the devils door. Do your research and know what companies to avoid!”

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