Once upon a time — back before the crying, wailing, and sobs of subprime lending — HSBC plc said the bank did not spend money on lobbying and attempts to influence legislation. Certainly William F. Aldinger spent money to do so in the United States, as his predaotry little company (Household International) was purchased […]
After you take the self-serving fluff out the press release, there is some news as HSBC and Loyalty Lab form an alliance. Loyalty Lab formed an alliance with HSBC Finance Corporation’s card and retail services business to extend advanced loyalty and customer retention marketing (CRM) capabilities to retailers that offer private label and co-branded […]
EC in New York asks: “Has anyone received a credit card from HSBC / Direct Merchants Bank which they did not apply for (an unsolicited credit card)? I did and am wondering how widespread this predatory marketing practice by HSBC / Direct Merchants Bank is. The issuing of an unsolicited credit card is […]
HSBC and Household International has two general forms of merchant agreements with vendors. This pertains to your Best Buy credit card, Saks card, and over 60 other merchants. A list is on the bottom of the page. For this one may substitute the term vendor, merchant, and store interchangeably. Once may […]
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 […]
Household - HSBC Watch has learned of layoffs within Metris now that HSBC owns the company. Jacksonville Florida and White Marsh Maryland locations of Metris have seen layoffs. In addition, the Metris skip tracing and debt waiver department received notice that their last day will be May 12th. Look for other […]
Consumers with credit cards from HSBC constantly report violations fo the Federal Truth in Lending Act. (see the act here)
Violations date back to 1994 when credit cards were part of Household International, famous for evictions and predatory lending, according to consumer watchdog organization Household - HSBC Watch. In 2003 Household was renamed HSBC […]
The deal between HSBC Finance and Metris, which issues credit cards through its Direct Merchants Credit Card Bank subsidiary, is expected to close in the fourth quarter of 2005. It will see Metris become a wholly-owned subsidiary of HSBC. As Metris is a specialist in non-standard consumer finance, the purchase will see HSBC further build […]
Your Direct Merchants Credit Card is to become scandal plagued Household International’s operation. Now called HSBC Finance, Household’s parent company HSBC bought Metris, the former owner of Direct Merchants. “For over eleven years Household and HSBC’s credit card businesses, both private label and name brand, have been subject to suspicious acounting, including that […]
An announcement on the household.com website says the company’s site will be redirected to hsbcusa.com in the near future. A sign that HSBC is still exterminating the predatory lending image of Household International, famous for foreclosures and predatory lending, the change at household.com should be effective in May or June 2005. Analysts at […]
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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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