This is another update from our friend Curtis: “Please be advised of the following. I am currently involved in taking legal action against HSBC Mortgage Services Inc. in Brandon Florida.
My current mortgage was audited and found to be in violation of TILA, RESPA, HOPA and the Fair Trade Practices Act. The loan as […]
In 2003 consumer advocates at Household - HSBC Watch knew nothing of Knight-Vinke and Eric Knight. The organization was known only as Household Watch. But just this morning HSBC might be planning more acquisitions in the United States. “We may consider acquiring banks linked to Spanish and Asian communities,” the South China […]
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 […]
Consumer complaints against debt collectors are way up, say government regulators.
Last year (2005) consumers filed 66,627 complaints against third-party debt collectors. That compares with 58,698 complaints filed against debt collectors in 2004, according to a new report released by the Federal Trade Commission.
The number of complaints against debt collectors reflected 19.1 percent of all complaints […]
Wall Street company Bear Stearns & Co. disclosed last month that its loan-servicing company, EMC Mortgage Corp., which collects bills and buys loans from sub-prime lenders, had handed over documents to the FTC. In a regulatory filing, Bear Stearns said the FTC was investigating “various unnamed sub-prime lenders, loan servicers and loan brokers” for possible […]
The national “do not call” list is welcomed by consumers and almost eliminates annoying interruptions at dinner. But Household International, and in one case their credit card merchant CompUSA fought consumer activists favoring “do not call” legislation in the early formative years. Examples:
“I received calls from Warrantech (an extended warranty company) after I […]
Tue May 17, 2005 - Global bank HSBC Holdings said on Tuesday it was in talks to buy a majority stake in Dar Es Salaam Investment Bank of Iraq as part of a plan to expand in the country as it rebuilds after war. The now disbanded U.S.-led occupation authority gave HSBC, […]
When you take the time to file a complaint with the FTC they will reply promptly, and they will assign a reference number to your complaint. Here is part of what you will receive:
One of our consumer counselors reviewed the information you sent us. If it was related to the FTC’s law enforcement responsibilities, […]
Another of troubled predatory lender Household International and HSBC’s merchants, CompUSA Inc., has agreed to settle a government complaint charging the company with deceiving consumers who bought computer products but failed to receive promised cash rebates from $15 to $100 each, the Federal Trade Commission said Friday March 11, 2005. The FTC said CompUSA […]
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 […]
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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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