Household HSBC Watch

WASHINGTON — Watch what you sign if you have your taxes done by a commercial tax preparer. The Internal Revenue Service is proposing a change in privacy protections that consumer groups say would allow your financial information or even copies of your return to be sold to data brokers and marketers. Currently those […]

Typically the introduction and maintenance of a private-label card is more of a financially driven decision that means lower credit processing fees and more money made off of each transaction. A review of merchants in the HSBC Finance Corporation Household International private label card program indicate many are in financial trouble. The decision to […]

“I have seen other companies pursue this strategy in the past, but I see it at a decreasing rate,” said Gary Hawkins of Hawkins Strategic. “It seems fewer are pursuing private-label credit cards today. Retailers just have not seen the relationship return from it.” “Private-label credit cards rarely capture more than 10 percent of […]

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 […]

NEW YORK — 3/15/2006 - New York state has filed a $250 million fraud suit against HSBC’s partner in predatory income tax loans, H&R Block.

The suit against the nation’s largest tax-preparing service charges the company fraudulently steered customers into a losing retirement account plan.
The lawsuit, filed by Attorney General Eilot Spitzer in Manhattan’s state Supreme […]

HSBC Finance Corp. of Prospect Heights has hired Cindy Baier, most recently president of Whitehall Jewellers Inc., as managing director, helping to develop credit card programs for retailers. Before working at Whitehall, Baier was senior vice president and general manager of the credit and financial products business at Hoffman Estates-based Sears, Roebuck and Co. HSBC […]

This is the Household - HSBC Watch year end update on H&R Block, Household International, and HSBC tax refund loans. Racketeering charges against HSBC and H&R Block still remain, mostly in part to HSBC’s predatory lending subsidiary formerly named Household International.

CHARLESTON, W.Va. — A Kanawha Circuit judge gave preliminary approval Friday to a $62.5 […]

Is HSBC North America in worse financial shape than previously suspected? An analysis of customer complaints for the first two months of 2005 focuses on HSBC Finance Corporation, which really is the previously troubled predatory lender Household International. Delays in processing payments well outside the guidelines prescribed in FDIC Regulation Z suggest possible […]

William F. Aldinger, former CEO of troubled predatory lender Household International and now Chairman of HSBC North America, is also on the board of directors of AT&T. Aldinger has a law degree and also sits on the board of Mastercard International. Here is the latest report (February 24, 2005) from Federal Regulators:

WASHINGTON — […]

“NEW YORK, March 30, 2004 (PRIMEZONE) — The law firms of Kirby
McInerney & Squire, LLP and Levy Angstreich Finney Baldante,
Rubenstein & Coren, P.C. announce that the U.S. District Court for the
Northern District of Illinois has issued an opinion, entered March 30,
2004, sustaining federal Racketeer Influenced and Corrupt
Organizations Act (”RICO”) claims on behalf of a certified […]