In a recent telephone discussion with the Office of the Comptroller of the Currency (OCC) Household – HSBC Watch learned that federal regulators were in complete disagreement about who should regulate and control Household Finance Corporation. A division of Household International, now owned by HSBC, Household Finance was the target of predatory lending charges. Complaints were so overwhelming from almost every state in the United States that one can see where nobody wanted to admit to responsibility for HFC. Responsibility was tossed around like a hot potato. States Attorney’s General finally stepped up to the plate to hit a home run against these bandits, while the OCC wrote tougher rules and regulations against predatory lending. OCC rules went into effect three years after Household’s nationwide $484 million settlement.
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Popularity: 6% [?]
Over 500 downloads since 15 January 2005! With a small download size of only 174Kb, the 20 page “History of Predatory Lending With an Emphasis on Household International and HSBC Finance Corporation” now has over 500 downloads. Written in a “Lesson Plan” format this informative document teaches people about a side of personal finance many have never seen before. See more about this free download here or at HSBC Watch. “We distribute about 100 copies a month to interested individuals” said a member of the watchdog organization Household – HSBC Watch.
Popularity: 4% [?]
NEW YORK–(BUSINESS WIRE)–Feb. 8, 2005–
HSBC Bank USA, N.A. Branches to Cash Tax Refund Anticipation Loan Checks at No Charge. Refund Anticipation Loan Customers Will Also Be Encouraged to Open Free Checking Accounts at Its Branches
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Popularity: 3% [?]
Household – HSBC Watch reminds visitors that they may download, read, print, or save “The History of Predatory Lending With an Emphasis on Household International and HSBC Finance Corporation” from the downloads section of the website.
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Popularity: 5% [?]
