For those who subscribed to this category by RSS feed, and those who monitor it regularly, please note that we added a new category called “Metris Status 2006″ seen here. Your contributions, comments, and updates are invited and welcomed. Anonomous updates can be submitted by email using our contact form if you […]
Bank of America finalized the purchase of MBNA, leaving HSBC far behind in the U.S. credit card market. Analysts say it’s possible that HSBC’s ‘Household International’ purchase came with such a bad reputation for predatory lending that HSBC will never catch up. Even with their pending deal to buy scandal plagued Metris, reputational […]
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 […]
Chief Operating Officer Alan Jebson said HSBC would save about $20,000 for every job it moved to Asia. HSBC runs four service centers in India, three in China and one in Malaysia, one in the Philippines and one in Sri Lanka. Vietnam could be its next outpost, where there is a high population of English […]
BY SHERYL JEAN, Pioneer Press
A handful of top executives at Metris Cos. received pink slips Thursday as the credit card issuer became part of finance giant HSBC Group, and more are expected in the coming months. Chief Executive David Wesselink, credited with turning around a company once on the brink of bankruptcy, is gone. […]
HSBC Finance Corp is the new name for predatory lender Household International.
PROSPECT HEIGHTS, Ill.–(BUSINESS WIRE)–Dec. 1, 2005–HSBC Finance Corporation, (NYSE: HBC) the consumer finance arm of one of the world’s largest financial services companies, today announced the closing of its acquisition of Metris Companies Inc. (NYSE: MXT)
The total consideration paid by HSBC to Metris […]
HSBC hasn’t released their numbers relative to their buyout of Metris but employees are asking how it will effect them. We are not sure. But Bank of America released their numbers. Let’s examine the Bank of America position relative to buying MBNA:
Charlotte, N.C.-based Bank of America expects to eliminate 6,000 jobs between […]
Credit card issuer Metris Cos. has said the U.S. Securities and Exchange Commission staff does not plan to recommend enforcement action against the company related to an investigation of its financial accounting dating to 2001. The SEC still must review the recommendation and make a final decision. The resolution of the investigation and possible charges […]
MINNETONKA, Minn. (AP) - Credit-card issuer Metris Cos., currently being bought by a unit of HSBC Holdings PLC., on Monday reported third-quarter profit fell 13 percent, on a revenue decline of 5.1 percent.
Quarterly profit fell to $53.7 million, or 39 cents per share, from $61.8 million, or 48 cents per share. Revenue declined to $184.5 […]
Merger Update
On August 4, 2005, Metris Companies Inc. announced a definitive agreement for HSBC Finance Corporation to acquire Metris in an all-cash transaction. Metris will become a wholly owned subsidiary of HSBC Finance Corporation upon completion of the transaction. The acquisition is subject to certain conditions, including resolution of the potential civil injunctive action […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
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