William F. Aldinger III was relieved by Sir John Bond of HSBC after lackluster profits from North American operations again hurt HSBC globally. Analysts say almost one-third of UK residents had an interest in the fortunes of HSBC - either through shares or pension funds. Aldinger was relieved of command one year early, in essence being fired. Although the HSBC announcement said Aldinger will retire, investigators at Household - HSBC Watch knew he was in over his head. Possibly withholding key facts from HSBC’s due diligence before HSBC purchased Aldinger’s troubled predatory lending company Household International, almost one-third of UK residents lost money through Aldinger’s predatory stunts and tricks. As the experts on how HSBC Finance Corporation effects US consumers, Household - HSBC Watch thinks the entire house of cards will crumble as the truth begins to surface.
Archive for the Category »Racketeering «
Andrew Armishaw, group executive and chief information officer at HSBC has some explaining to do. Consumers have reported in recent weeks that HSBC’s online payment website, www.hrsaccount.com , will not let customers pay their accounts online. The number of complaints about the online payment website rose to an all time high in recent weeks. Consumer watchdog organization Household - HSBC Watch said www.hrsaccount.com supports accounts for predatory lender Household International, now called HSBC Finance Corporation. See a letter to the FBI and regulators.
” The World Bank has identified corruption as the single greatest obstacle to economic and social development. It undermines development by distorting the rule of law and weakening the institutional foundation on which economic growth depends. The harmful effects of corruption are especially severe on the poor, who are hardest hit by economic decline, are most reliant on the provision of public services, and are least capable of paying the extra costs associated with bribery, fraud, and the misappropriation of economic privileges. ”
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William F. Aldinger, former CEO of troubled predatory lender Household International and now Chairman of HSBC North America, is also on the board of directors of AT&T. Aldinger has a law degree and also sits on the board of Mastercard International. Here is the latest report (February 24, 2005) from Federal Regulators:
NEW YORK, Jan. 10, 2005 (PRIMEZONE) — The law firms of Kirby McInerney & Squire, LLP and Levy Angstreich Finney Baldante, Rubenstein & Coren, P.C. announce that the United States Supreme Court today denied defendants’ petition to review the certification of a nationwide class asserting federal Racketeer Influenced and Corrupt Organizations Act (“RICO”) claims against H&R Block, Inc. and Household International, Inc. (successor to Beneficial Corporation), now a subsidiary of HSBC Holdings PLC. The plaintiff class alleges that defendants, among other things, deceived customers seeking tax refunds into obtaining high interest loans.
Consumer advocates at Houshold - HSBC Watch said the move is another step in further RICO claims against Household including new claims possibly related to Shea v Household.
