Democratic Sen. Carl Levin of Michigan, chairman of the subcommittee, said that it seemed “unfair” for credit card issuers to raise customers’ interest rates if they paid their bills on time. He pointed out that other card issuers, such as Chase, have said that they will no longer raise interest rates based on changes to […]
Consumer Reports conducted a survey that focused on 21 credit card issuers. It found that credit unions’ credit cards ranked higher in customer satisfaction than the five major credit card companies — Bank of America, Citibank, HSBC, Capital One and JP Morgan Chase — which jointly comprise 80 percent of the credit card market. […]
HSBC wanted to buy a predatory lender. The purchased Household International in 2002 to satisfy their desire. Now those customers are at risk as HSBC predicts a recession for the United States. Already beaten down and strangled by HSBC’s oppressive terms and conditions these very same customers were hit harder by rising […]
NEW YORK — The U.S. arm of HSBC Holdings PLC said it will shuffle its senior management team, including replacing the head of its retail banking unit.
Martin Glynn, the 55-year-old chief executive of the U.S. retail bank, will retire at the end of the year, after 24 years with HBSC, the company said Monday.
His replacement […]
NEW YORK (Reuters) - The chief of HSBC Holdings’s U.S. retail banking unit said on Monday he would prefer to expand existing businesses, including branches, rather than pay elevated market prices to grow by acquisition.
Martin Glynn, who runs HSBC Bank USA, also said his unit is faring about as well as big U.S. banks […]
HSBC - North America’s retail services business today announced it has formed a strategic alliance with electronic payment network operator Debitman Card, Inc. to accelerate growth in Debitman’s debit card platform, known as “The Retailer’s Network.”
About Debitman
Debitman created and operates the Retailer’s Network, the only national, interoperable electronic payment network for retailer-issued debit cards. Founded […]
KUALA LUMPUR: HSBC Bank (M) Bhd aims to have one million of its credit cards in circulation in Malaysia by the year’s end. Currently, it has more than 950,000 credit cards in circulation. The bank’s head of cards, Linda Yip, said the new campaign would offer promotions and discounts, and a contest for users. […]
According to a group of prominent bankers, a lawsuit brought by retailers in the US alleging a number of major credit card issuers and banks colluded to fix processing prices will have far reaching consequences for the industry at large if it is successful. The group of international bankers, Reuters reports, has warned that […]
Bank fined $9M in debt case, Credit card issuer contends federal laws trump state court as issue heads to appeal
ALBANY — A court has ordered a nationwide bank to pay nearly $9 million in restitution and penalties for using fraudulent and deceptive selling tactics that put consumers in deep debt, state Attorney General […]
Bank of America finalized the purchase of MBNA, leaving HSBC far behind in the U.S. credit card market. Analysts say it’s possible that HSBC’s ‘Household International’ purchase came with such a bad reputation for predatory lending that HSBC will never catch up. Even with their pending deal to buy scandal plagued Metris, reputational […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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