Household HSBC Watch

NEARLY half of all mortgage shoppers use the Internet to do research on mortgages. If your research got you to this website you have reached Household - HSBC Watch consumer advocates, a watchdog organization not affiliated with HSBC in any way. You are doing your homework, however, and digging deeply. Perhaps HSBC […]

A study conducted by Citizens for Equal Access to Credit found that a large percentage of subprime credit card users improved their credit rating within a two-year period. Based on a study of 360,000 card users, at least 35 percent of consumers with low-limit credit cards improved their credit scores in two years. […]

According to Maryland newspapers, HSBC North America Holdings this month will close its White Marsh operation — HSBC Finance Corp. — and lay off 450 employees. With Boscov’s closing its Glen Burnie, Owings Mills and White Marsh stories, 400 people will lose jobs. Boscov’s signed a contract with HSBC and HSBC managed the Boscov’s […]

China and India have been growing at steady paces, but some have pointed to a possible bubble. Already, China has shown its weakness as pretax profit for HSBC in China fell 41% to $907 million. Meanwhile, shares in Korea Exchange Bank, HSBC’s newest target, have fallen as much as 12%. For now, HSBC remains devoted […]

According to the Guardian: “Couples who lost their wedding presents when online gift service Wrapit went into administration are planning to demonstrate outside the head office of HSBC this afternoon. The gift list firm closed on Monday after it failed to find a rescue deal, leaving up to 2,000 couples without presents that […]

Here at Household - HSBC Watch we receive complaints every day. Some involve pre-payment penalties on home loans that trap the buyer, preventing refinancing or otherwise putting the buyer upside down in the home. That may soon change according to Federal Reserve Chairman Ben Bernanke.

“Although the high rate of delinquency has a number […]

Even bankrupt lenders are looking for a new approach to lending. One subprime lender, the bankrupt Delta Financial, is reemerging as a lender of FHA mortgages and other “alternative” products. The company’s former chief executive, Hugh Miller, along with a small group of former Delta executives, is launching Reliance First Capital, a mortgage company […]

According to Business Wire, Capgemini announced today a renewal of their relationship with HSBC for continued collaboration with HSBC’s Global Technology Centers. According to a self-serving press release Capgemini and HSBC are both the greatest, most wonderful organizations. What is wrong with the report? Capgemini supports HSBC key strategic businesses, including Consumer […]

HSBC Finance Corporation’s card and retail services business has introduced a credit card that gives consumers the opportunity to use earned rewards to make a contribution to a variety of environmental causes. It does not take long to realize that 70 percent consumer dissatisfaction with HSBC credit cards (see our poll) indicates an overall […]

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 […]