Binding arbitration is one thing, but oppressive binding arbitration is quite another. One would expect oppressive action from the nation’s biggest predatory lender – Household International – and now HSBC. Note the ‘no class action’ clause! Here is the state court and supreme court opinion, summarized for clarity:
Popularity: 18% [?]
In retrospect those who settled with Household International on charges of predatory lending would have done it differently. No doubt exists that Household’s predatory lending settlement was a guideline for the Ameriquest settlement. Both were accused of predatory lending. Both were involved with people’s real estate loans, either as primary predators or second mortgage predators.
Popularity: 11% [?]
In the ‘You should know’ category: HSBC expanded in the U.S. with the $15.5 billion purchase in 2003 of Household International Inc., a lender to people denied credit by other banks. “HSBC timed the acquisition of Household very well both in terms of the price it paid and in terms of it fitting in as a catalyst for growth to the group,” said Sandy Chen, an analyst at Collins Stewart Ltd. in London, who rates the shares “buy.” “The old Household engine has been put into the HSBC distribution network worldwide.”
Popularity: 6% [?]
Predatory lenders and Chairman beware. The High Court in London today dismissed an appeal by three British bankers against extradition to the United States on charges relating to the 2001 collapse of Enron.
Popularity: 10% [?]
Union leaders yesterday called for a tightening of a publicly funded scheme intended to lure jobs to Scotland after a £1m grant was awarded to the richest bank in UK history. HSBC, which makes £1m profit every hour ($1,740,249 USD), will receive the regional selective assistance (RSA) grant from the Scottish Executive in return for creating up to 257 new jobs in Edinburgh.
Popularity: 6% [?]
Legal Info
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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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