Household HSBC Watch

Here is a report that details how HSBC Auto in San Diego actually conducts business. Since HSBC decided to exit the auto financing business, we say “good riddance.” This is a shabby way of doing business. We have many reports on file from years past, and little has changed. The following […]

AK in Oregon sent this op-ed piece. We are publishing it here instead of in our complaints blog:
“HSBC- predatory lenders who slam insurance, offer over market rates and fees, and treat employees with disrespect.

When I started working at HFC I was just out of college. I was excited to have a job […]

Reuters is reporting that HSBC intends to open new branches - bank branches, not HFC and Beneficial Finance branches - across the United States. Quoting Kevin Martin, executive vice president of HSBC Bank USA, the bank inteneds to open new branches with a focus on New Jersey, California and Washington D.C. Plans […]

Nichols Kaster & Anderson sued HSBC again last week for wage and hour violations under the Fair Labor Standards Act (FLSA) and California laws. Advocates at Household - HSBC Watch received many reports in the last quarter of 2007 that supported allegations made by employees dismissed during a drawdown at HSBC Finance, HFC, and […]

The final outcome of Shea vs Household was as follows, and is filed in Superior Court for the State of California, Case Number 00CC12585, published March 19, 2004. The Honorable Stephen J. Sundvold presided.

The lawsuit alleged that Household imposed certain finance charges, late fees, a overlimit fees between October 20, 1994 and March 18, 2004 […]

Knight Vinke today renewed its assault on HSBC’s strategy, saying Britain’s biggest bank was regarded by many shareholders as a disparate collection of poorly connected business trying to be all things to all people.

The activist fund manager, which has the full backing of the powerful California pension fund Calpers, also blasted the bank for […]

An NASD arbitration panel found HSBC Brokerage (USA) Inc., liable for $776,000 for negligent misrepresentations and omissions in the sale of a structured note. On Friday, May 4, 2007, the NASD panel awarded $776,000 to Rayburn Enterprises and a related trust. Rayburn Enterprises was represented by Dempsey & Johnson, a Los Angeles, California law firm.

“It […]

The History of Sub-Prime and Predatory Lending, approximately 30 pages in PDF format, is revised for 2007. This educational and informative document is written as a lesson plan for educators, but is also prudent for anyone that wants to learn about the subject. At the same time The History of Sub-Prime and Predatory […]

Why is this important? Because William F. Aldinger is on the board of directors at AT&T, and was also CEO of Household International, and Chairman and CEO of HSBC USA. HSBC has the same mandatory binding arbitration, and William F. Aldinger has his law degree and thus would advise AT&T in some capacity. […]

The new bank already has one branch that opened on Monday, in Bethesda, outside Washington, D.C. Besides offering loans and deposits, that office also offers check-cashing services. The new charter will also be used for the bank’s pending expansion into Connecticut later this month.

HSBC has aggressively added branches in multiple states over the past […]