As HSBC seeks to raise money in the United States, primarily through HSBC Finance, the number of complaints continues to rise. Advocates at Household - HSBC Watch say the number of complaints received on a daily basis is at the highest in five years. Disappointment with HSBC credit cards and merchant credit cards […]
An identity theft ring that involved the personal information of 10,000 credit card holders was busted in New Jersey, federal authorities said today. Four men arrested by the U.S. Postal Inspection Service are expected to be arraigned at 2:15 p.m. this afternoon in federal court in Newark. A fifth suspect is at large. […]
Here is another class another class action that involves HSBC, among others. The class action suit states that the credit card companies were hiding fees up to 3 percent in foreign transactions by cardholders outside the US, which is a violation of both federal and state laws. Additionally, the class action suit attempts […]
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 […]
The Supreme Court of Canada in April upheld the largest exemplary damages ever awarded in Quebec - the $2.5-million Household Finance Corp. was ordered to reimburse 25,000 credit-card holders over late-payment fees after the company lost a Quebec Superior Court class civil suit in May 2003. The lead plaintiff in that case was Brault […]
Analysts at Household - HSBC Watch think HSBC learned from the recent subprime crisis, regardless of what they tell Knight Vinke and other activists. After studying HSBC and Household International for many years Household - HSBC Watch thinks HSBC will make a move soon. Changes must look like they are HSBC’s idea, […]
Recent problems in the subprime sector spread around the world very quickly. Then the problems spread to Alt-A mortgages. Cash strapped borrowers with second mortgages and adjustable rate mortgages caught the attention of the world. By the morning of August 9, 2007, something else caught the attention of investors around the world. […]
When HSBC lost money due to HSBC Finance the bank worked very hard to turn a profit elsewhere. Developing nations held the wolves at bay as those opposed to HSBC’s Household International remain posed to file suit if the bank turned shareholder profits into a loss. Others may still file suit claiming $10.6 […]
The Guardian reported on Sunday, one day before HSBC is due to release half-year results , that HSBC’s unsecured portfolio is experiencing bad debt. Analysts imply that subprime mortgage blues have spread to other parts of HSBC. Antony Broadbent, banking analyst at Sanford Bernstein, expects the bank to warn that there has been […]
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 […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
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