Neiman Marcus has settled a lawsuit with HSBC Finance, the operational unit of HSBC formerly known as Household International. The lawsuit pertained to private label credit cards - the cards issued by HSBC Finance (HSBC NV) containing the Neiman Marcus name instead of HSBC’s name. Part of HSBC’s private label credit card agreements […]
HSBC Holdings Plc, Europe’s biggest bank by market value, dropped to the lowest in almost three months in Hong Kong trading after Morgan Stanley downgraded the stock on concern provisions for U.S. loan defaults will increase. Morgan Stanley expects “a significant jump in credit costs across consumer loan classes,’’ Hong Kong-based analyst Anil Agarwal […]
Further proof that the John Bond - William Aldinger Household International deal of almost five years ago was a stinker is about to slap HSBC hard. Left to there own predatory devices Household International would have gone bankrupt in 2003. As proof of how bad Household International was, it took most other […]
Boscov`s Department Stores, based in Reading, Pa., has agreed that HSBC-North America`s retail services business will run its credit program.
BDS customers will continue to accrue purchase points and enjoy other features of their existing Boscov cards, BDS said Thursday. BDS is the largest full-line, family-owned independent department store in the country, operating 40 stores in […]
Citigroup, HSBC and ABN Amro, which has also published guidelines for sectors including oil and defence, all say their policies have caused them to turn down unsuitable projects and even client relationships. Meanwhile at a cost which includes reputational risk, HSBC’s acquisition of Household International and their failure to do much, if anything, about […]
June 20, 2005 — Lately the trend in reports to Household – HSBC Watch has been “HSBC NV is on my credit report.” People are asking “What is this company and why are they checking my credit?” We can tell them the history of Household’s acquisition by HSBC, but we can’t tell why […]
The former finance chief of WorldCom testified on February 10, 2005, that the company called off 2001 merger talks with Verizon after he and CEO Bernard Ebbers worried Verizon would discover WorldCom had cooked its books. Scott Sullivan told jurors he worried Verizon would uncover the fraud during a process called due diligence, in which […]
HSBC has been criticized by some analysts for the purchase of Household. Merrill Lynch & Co. and at least six other brokers cut their 2005 earnings estimates for HSBC on March 1, a day after the bank reported the slowest earnings growth in 2 1/2 years as earnings from consumer lending in the U.S. declined. […]
William F. Aldinger III was relieved by Sir John Bond of HSBC after lackluster profits from North American operations again hurt HSBC globally. Analysts say almost one-third of UK residents had an interest in the fortunes of HSBC - either through shares or pension funds. Aldinger was relieved of command one year […]
Here at Household Watch we received the following a few days ago. Are they violating the patriot act if this allegation is true? You decide and let us know.
HSBC/Best Buy violating patriot act in processing apps
As of 4 days ago, I have in writing as an employee, a document from Retail Services upper management […]
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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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