Household HSBC Watch

We received this report today. That is all we are going to say about the origin.
“I am unfortunately a current employee of HSBC working in the HFC division. Let me say that I apologize to all of you out there that have unknowingly fallen into the hands of this evil company. As […]

This is another update from our friend Curtis: “Please be advised of the following. I am currently involved in taking legal action against HSBC Mortgage Services Inc. in Brandon Florida.

My current mortgage was audited and found to be in violation of TILA, RESPA, HOPA and the Fair Trade Practices Act. The loan as […]

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 […]

More losses are now official for HSBC. In total, HSBC wrote off 5.8 billion dollars (2.9 billion pounds) in the three months to March as a result of losses linked both directly and indirectly to the subprime crisis which it said would very likely push the US economy into recession. The truth is […]

Law firm Clyde & Cois is launching a case against HFC, a lender owned by HSBC, which sold payment protection insurance to 163,000 people between 2005 and 2007. Insurance packing in UK gets HSBC sued, as it did in the United States. Household Internaitonal, charged with predatory lending before HSBC purchased the troubled […]

This report was submitted by a Connecticut resident. The submitter is responsible for the accuracy of this report, and personal opinions are his:

These are the attorney’s handling many HSBC Mortgage Services foreclosures in Connecticut. Looks like birds of a feather do flock together. A law firm, mortgage company and real estate broker will […]

We received this report late Friday and will protect the writer / sender’s identity:
I am amazed that the layoffs and future layoffs of super sub prime lending giant HFC (Household/Beneficial) , also known/owned and directed by HSBC has not made more headlines.

In the state of Pennsylvania alone more than 25 offices are likely to […]

HSBC Financial Corp. Ltd. is closing 30 of its 140 small branches in Canada, affecting 300 employees, as it tightens up its lending practices in the continuing credit crunch. Operating separately from HSBC Bank Canada, the loan company is a subsidiary of a similar U.S. operation that has suffered in the U.S. subprime mortgage […]

It looks like HSBC’s Household International could have more company in terms of predatory lenders. The Massachusetts attorney general’s office has sued Fremont Investment and Loan, once the state’s second-largest subprime lender, accusing it of using predatory lending practices to sell loans to some borrowers who eventually lost their homes or had to […]

I like the statement by First Premier which says they did the same thing others were doing, and it was commonly accepted in the credit card industry. Here is the article:

NEW YORK, Aug 15 - First Premier Bank agreed to refund $4.5 million to settle a probe into the marketing of […]