Household HSBC Watch

HSBC BANK that has offices in 77 countries, claims to be a ’socially responsible corporation’. However, this doesn’t seem to apply to the humanitarian plight of Palestinians living in the Gaza strip and the Israeli occupied West Bank territories.

According to the charity Oxfam, HSBC has charged the European Union (EU) £1.9 million in bank charges […]

Internet users in the UAE are being warned to be on their guard following a massive phishing scam targeting HSBC customers there. The phishing attack follows a reported hacking attack on Emirates Bank and a fraud incident in Dubai, where criminals captured card data and PIN numbers from an ATM using a pinhole camera […]

HSBC owns 40 percent of Saudi British Bank.
HSBC Bank Middle East Ltd. is based in Dubai and operates from 31 branches in the U.A.E., Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon and Palestine, and units in Egypt and Iran. The bank plans to open an investment banking unit in Saudi Arabia this month as rising […]

Stephen Green, Group Chief Executive, HSBC Holdings plc, said: “HSBC’s Future of Retirement: What the world wants research shows that individuals increasingly expect to bear their own costs in later life, but governments and business must understand their role in continuing to support individuals. They cannot afford to shy away from the enormous challenges and […]

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:

The facts of Mandel and […]

In reading this section which originated from HSBC - HSBC Bank USA (”HBUS”) - regarding money laundering and their refusal to provide information, remember that HSBC wants to overturn state and local laws in favor of federal laws.

“Regarding an investigation into certain wire transfers made through Riggs National Bank… HBUS did receive from Riggs […]

“I have seen other companies pursue this strategy in the past, but I see it at a decreasing rate,” said Gary Hawkins of Hawkins Strategic. “It seems fewer are pursuing private-label credit cards today. Retailers just have not seen the relationship return from it.” “Private-label credit cards rarely capture more than 10 percent of […]

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 […]

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 […]

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.

In a landmark judgement, David Bermingham, Gary Mulgrew and Giles Darby, all former investment specialists for NatWest, failed to overturn the extradition order […]