Household HSBC Watch

Customers of HSBC experience the highest rates of identity theft in the banking industry, according to an investigative study released Wednesday by a UC Berkeley Law School researcher. HSBC is clearly in the lead. Through an extensive Freedom of Information Act request, Chris Hoofnagle, a staff attorney at UC Berkeley’s Boalt School of […]

HSBC’s mortgage-related troubles may not be over, however. Goldman Sachs Group Inc. analyst Roy Ramos, wrote on November 24 that the bank may have to write down an additional $12 billion at its Household International Inc. unit. The bigger the banking institution, the bigger the clean up (excerpt). HSBC’s credit card business may also […]

Another HSBC merchant is going out of busiiness. CompUSA, the computer retailer that Mexican billionaire Carlos Slim owned since 2000, will shut its doors after 23 years, succumbing to competition from Best Buy Co. and Wal-Mart Stores Inc. On the CompUSA website it says “Same as Cash offer on approved purchases made on […]

HSBC made strong inroads into Viet Nam and is selling Islamic insurance in developing Islamic countries. Meanwhile in the United States HSBC, thanks to HSBC Finance, is making life miserable for Americans. Does this sound like a plot to an anti-western movie? You bet it does. HSBC - in my family […]

The U.S. Supreme Court on Monday rejected an appeal from Microsoft Corp. and a unit of Best Buy Co., ending a bid by the two companies to stop a class-action lawsuit over a joint marketing campaign for MSN Internet Access service.

The companies had appealed a lower court ruling that allowed them to be sued under […]

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC […]

The Cerberus private equity group recently bought Chrysler. Cerberus already owned 51 percent of GMAC. Chrysler Financial is the only part of Chrysler that makes money. The handwriting is on the wall for Cerberus to strip and flip Chrysler, keeping the profitable finance portion. HSBC Finance Corporation may look attractive to […]

In past years as a former customer I felt cheated, swindled, and was lied to by HFC - Household International. No, I was not the victim of foreclosure. Nor was I duped by my Best Buy credit card interest free period. That happened to my wife. I admit my wife and […]

In Sri Lanka HSBC credit card customers are far ahead of those in the United States. When one reads our “Live Complaints” section you see that Americans who have store credit cards cannot pay their bill at the store. A store credit card is, for instance, a Best Buy or Menards or Costco […]

Electronics retailer Best Buy Co. said Tuesday it extended a multi-year strategic alliance with financial services company HSBC Finance Corp. Financial terms of the deal were not disclosed. Shares of Best Buy dropped 70 cents to $47.65 in afternoon trading. Perhaps shareholders were not happy with the decision.

Consumer advocates were not […]