Household HSBC Watch

It looks like our government is trying to make us think they are doing something about mortgage fraud. More than 400 defendants were charged by federal prosecutors Thursday in connection with alleged mortgage fraud over schemes carried out since March, said to have resulted in about $1 billion in losses. In a probe […]

This is a classic example of how the subprime mess spun out of control. It is a classic example of how state regulators are continually frustrated by federal regulators and their desire to overrule state-level laws. Anyone who thinks they can get results from a local Better Business Bureau, when federal and state […]

PF in California says money disappeared from her/his bank account. “This company debited funds from my bank account. I have never done business with them, ever. I called them directly and was told that I could not talk to their fraud unit to complain….to determine the ISP of the computer that supposedly did […]

Financial services union Amicus has condemned HSBC’s plans to cut 72 jobs at finance departments in the UK and move the work to its offshore centres. HSBC is offshoring work from London, Birmingham and Southampton, including over 30 managerial positions.

The union says it is surprised by HSBC’s latest move, which cimes just weeks after […]

Both the Department of Justice and the Internal Revenue Service visited our website today. The IRS researched 1099 C (cancellation of debt) while the DOJ researched ‘HSBC Consumer Alert’. Since both areas are fully researched and documented by our staff we have material dating back to the old days when […]

Reported to our ‘How It Works’ section:
I fell into a scam for which I was unknowingly charged by my credit card company, HSBC. I just discovered it today 12/31/05. And, forget HSBC’s fraud department. The HSBC agent at its customer service phone number told me that the two companies were HSBC third party venders. I […]

HSBC may be involved in more fraud. They claim they monitor mortgage fraud but this one suspects they may be perpetrating it instead. Here is a customer report:

I received a 1099c yesterday for $68,000.00. It says that if the cancellation of debt was through bankruptcy, you do not have to pay taxes on […]

Consumer Watchdog Organization HSBC Watch, formally Household Watch, informed news services in the United Kingdom of another article about HSBC’s troubled lender Household International.

The article entitled “Mortgage borrowers file RICO lawsuit” first appeared in the Nashville Tennessean on October 25, 2004. It is found here:
http://www.tennessean.com/local/archives/04/09/60293750.shtml?Element_ID=60293750
It is not the first time Household International […]

By ROB JOHNSON
Staff Writer , Nashville Tennessean
Mortgage borrowers file RICO lawsuit
Two former Tennessee customers of nationwide mortgage lender Household International are charging in a Nashville federal court that the corporation was functioning as a racketeering operation when it offered misleading loan terms to its potential clients.

The allegations are, in part, a reprise of the charges […]

Hongkong and Shanghai Banking Corporation (HSBC), the parent company of predatory lender Household International, is making inroads into the United States. Already a banking giant with locations around the world, HSBC purchased Household International and therefore accepts the responsibility for the once troubled lender.

Allegations in one of most recently settled lawsuits against Household (Shea […]