Household HSBC Watch

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 , […]

Federal Board Governor Randall Kroszner spoke to bankers and some called his remarks “scathing.” Read his remarks below and please tell me if this is ’scathing’ or a total misconception of what bankers were doing. The problem as I see it was that profit taking and profit making failed to slam on the […]

WASHINGTON - Bank regulators issued new standards for subprime mortgage lending on Friday that includes several new consumer protections. Subprime borrowers should not be penalized for refinancing out of a mortgage before the interest rate resets to a higher level, according to a statement of principles issued by the regulators. The guidelines also […]

Here is an excerpt from a customer report. If this practice by HSBC (Household International) doesn’t attract the attention of the Justice Department, Office of the Comptroller, FTC and Federal Reserve Board we will be shocked. Here is his horror story:

“”I wanted to have my payments auto debited each month so they […]

Relative to a conversation between Household - HSBC Watch and the Office of the Comptroller of the Currency (OCC) the following regulators have oversight and responsibility:

OTS: HFC - Household Finance Corporation (OTS is the Office of Thrift Supervision)
OTS: Household Financial Services
OCC: Beneficial Finance - Beneficial Bank
FRB: Household Retail Services, HSBC […]

A History of Predatory Lending With an Emphasis On Household International in America
OVERVIEW:
We decided to write this document as a lesson plan for teachers and professors. You decide if it is appropriate for the courses that you teach. Throughout the lesson you will see student questions, summaries, research questions and real life consumer […]

THIS DATA CURRENT AS OF THE FEDERAL REGISTER DATED OCTOBER 31, 2002
12 CFR - CHAPTER II - PART 227

? 227.2 Consumer complaint procedure.
(a) Submission of complaints.
(1) Any consumer having a complaint regarding a State member bank is invited to submit it to the Federal Reserve System. The complaint should be submitted in […]

Best Buy has a seven year contract with Household Retail Services to service the Best Buy Card through Household Bank. There are over 1600 documented cases of multiple errors by HRS. The Federal Trade Commission is working with us to follow trends. We are concerned that no-interest finance plans turn in to high interest financing […]