A look back at 2005 shows HSBC Finance Corporation’s merchants for what they really are. Ever wonder why this bumbling group of merchants decided to align their customers with a predatory lender such as Household International? Through questionable credit card processing, first with Household International and now with HSBC Finance Corporation (they are the same thing) merchants decided a Household Bank credit card would be good for their customers.
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A Tuesday night episode of Boston Legal exposed the credit card industry for what they really are. When any industry goes beyond what is reasonable and prudent in the interest of profit it is a travesty. Boston Legal put the industry on prime time for what they really are, but the show contained a quote we find interesting. “We are one of the largest law firms with offices in London and HongKong”
LONDON - Stephen Green, a preacher, lover of Russian literature and chief executive of HSBC (HSBA.L: Quote, Profile, Research), will next year step up to the biggest job in British banking as he crosses the corridor to the executive chairman’s office. Green, who has been HSBC’s CEO since June 2003, will step into the shoes of John Bond to take the helm of the world’s third biggest bank, which operates in 77 countries, has 250,000 employees and 110 million customers.
By JONATHAN D. EPSTEIN
News Business Reporter
11/16/2005
Profits at the New York-based parent of HSBC Bank USA fell again in the third quarter, as the growing relationship between HSBC Bank USA and former consumer finance company Household International continues to take a toll on the local bank’s earnings.
Category: 05 All Articles, 05 HSBC - U.S., 05 HSBC Holdings
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HSBC Bank USA has officially launched a new online savings account, offering an unusual 4 percent interest rate and no monthly fee in a bid to attract a nationwide customer base. The new account from the Delaware-based bank, which has the largest market share in Western New York, is the bank’s latest effort to boost its retail deposit base both within its current markets and nationally. It dovetails with the introduction of new free-checking accounts.
Category: 05 All Articles, 05 HSBC - U.S., 05 HSBC Holdings
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