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.
Popularity: 53% [?]
“They do not send an electronic receipt when payments go through, so consumers must assume it worked… The person I reached on my second call was simply unbelievably rude. He said that nobody would have told me that payments are sometimes not processed. I said I wasn’t blaming him or anyone – I understand that things happen like that with technology. He huffed and insisted I was lying. I asked him if that’s what he was implying, and he said ‘you, like these other customers who say this, are lying and just didn’t make a payment.’”
Popularity: 15% [?]
May 17–HSBC USA, the immediate parent of HSBC Bank USA in Buffalo, said costs from the purchase of credit card loans from former disgraced predatory lender Household Internatioanl kept net income for the first quarter flat, even though the bank made more loans and took in more fees. Household is now owned by HSBC. However, the bank also took a $166 million charge before taxes — about $100 million after taxes — to begin writing off the cost of buying $12 billion in mostly retail store credit card loans from HSBC Finance Corporation at the end of last year. It also had to pay the finance unit to service the loans, and set aside $133 million to cover possible bad loans from the acquisition. “HSBC Finance Corporation is Household International’s new name” said Household – HSBC Watch. “Household (HSBC Finance Corporation) continues predatory lending practices while HSBC USA finances the trickery” said the organization, referring to applying payments late, not mailing statements, disabling the online payment website and much more.
Popularity: 16% [?]
Here is an excerpt from a customer report. If this practice by HSBC (Household International) doesn’t attract the attention of the Justice Department, Office of the Comptroller, FTC and Federal Reserve Board we will be shocked. Here is his horror story:
Popularity: 26% [?]
When you take the time to file a complaint with the FTC they will reply promptly, and they will assign a reference number to your complaint. Here is part of what you will receive:
Popularity: 27% [?]
Legal Info
Household HSBC Watch is a watchdog and consumer advocacy organization.
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.
Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.
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