The following information pertains to the right to recind an agreement between HSBC and a customer. It is quite lengthy, but very interesting. The information comes from the FTC and OCC, respectively, according to the submitter. Case law is included:
I. TILA & Res Judicata
(Analogous to Mr. Curtis xxxxxx , […]
Consumer complaints against debt collectors are way up, say government regulators.
Last year (2005) consumers filed 66,627 complaints against third-party debt collectors. That compares with 58,698 complaints filed against debt collectors in 2004, according to a new report released by the Federal Trade Commission.
The number of complaints against debt collectors reflected 19.1 percent of all complaints […]
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 […]
In a formal letter to the Federal Trade Commission (FTC) HSBC addresses debt collection by email:
1441 Schilling Place Salinas, CA 93901 June 27, 2005
“The Commission has also asked whether debt collection e-mails should be considered commercial. We do not believe a debt collection e-mail should be considered a commercial e-mail. A debt collection e-mail has […]
What happens to the debt itself, as National Loan Exchange President Dave Ludwig has demonstrated, is a story in and of itself. Unpaid debt has become a commodity, creating revenue streams for banks trying to recoup their losses without devoting time and energy to expensive debt collection. Following the savings and loan […]
The large volume of complaints to Household - HSBC Watch concerning transfer of accounts from GECF to HSBC (Household International) suggests lawsuits concerning the issue. It will not be the first time such transfers attracted the attention of regulators and attorneys. We reference the action cited below:
A class action suit filed against Heilig […]
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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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