On May 26, 2005, more news about General Motors (GM) and their troubles added fuel to the fire. GM already tasks predatory lender Household International, now called HSBC Finance Corporation, with processing and handling the GM credit card. Missing records and identity theft issues were traced to the GM card. “Our point is this” said Household – HSBC Watch. “If GM sells their mortgage business to HSBC, which is actually the disgraced and highly predatory Household International, it will put GM out of business. It is every home owner’s nightmare if their loan is sold to a predator, and GM has no more room for forgiveness after the GM card disaster” said the group.
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More than 785,000 Americans learned that they may have been the subject of identity theft in the last three months. HSBC, a U.K. bank, recently informed 180,000 of its customers that information the company kept on them had been exposed to potential criminals. Consumer advocacy organization Household – HSBC Watch said recent complaints on their website include HSBC NV, the Nevada location of HSBC (household International) credit card issuing facility. Here is a sample consumer report to Household – HSBC Watch: “We are refinancing and 3 months ago this was not on our credit report and now it is for $1423.00 at $42.00 a month and we never signed up for anything in this past year. How do we get this off our credit report?”
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