Household HSBC Watch

HSBC said the bank would export the business model of Household International, purchased by HSBC in 2003. As disturbing as it sounds, HSBC bragged about exporting the so-called “Household Model” even though history will show the model as a predatory lender. Subprime losses in the billions of dollars showed a failure. Pragati […]

“It is clear that growth models in our industry based on high and increasing leverage will no longer be sustainable,” said HSBC chairman Stephen Green. Changes are being made at HSBC, partly to appease Knight Vinke. Don’t tell Green, however, because he wants the world to think it is all his idea. […]

According to Business Wire, Capgemini announced today a renewal of their relationship with HSBC for continued collaboration with HSBC’s Global Technology Centers. According to a self-serving press release Capgemini and HSBC are both the greatest, most wonderful organizations. What is wrong with the report? Capgemini supports HSBC key strategic businesses, including Consumer […]

The Cerberus private equity group recently bought Chrysler. Cerberus already owned 51 percent of GMAC. Chrysler Financial is the only part of Chrysler that makes money. The handwriting is on the wall for Cerberus to strip and flip Chrysler, keeping the profitable finance portion. HSBC Finance Corporation may look attractive to […]

Cerberus Capital Management LP is one of the largest private equity investment firms in USA. Cerberus Capital Management LP bought 80-percent of Chrysler Group for 7.4-billion dollars. The deal unwinds a 1998 merger. DaimlerChrysler will change its name to Daimler AG. Chrysler will become Chrysler Holding LLC. Under the deal, Daimler will […]

Gottschalks Inc. today announced that it has signed a new multi-year agreement with HSBC - North America’s retail services business for the operation of the Company’s proprietary credit card business. The card program partnership with HSBC has been a significant driver of sales, profit, and customer loyalty for Gottschalks. As a result of this agreement, […]

“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 […]

Additional DBA (doing business as) Names:
Household Mortgage Services
Beneficial
Household Retail Services
Household Bank VISA
Household Finance Corporation
Household Finance Company
Household Bank FSB
Household Bank Na Illinois
Household Automotive Finance Corporation
H R S
Household Loan
Ameritech Complete Card
Union Plus Card
USWEST Mastercard
Capital Financial Services, Inc.
Union Plus Loan Program
GM Card
Beneficial Finance
Beneficial Illinois, Inc.
Household Finance
Household Finance & Subsidiari
Household Retail Service, Inc
Household Bank (SB, N.A.)
Household Bank Retail Services
Orchard […]

WASHINGTON - The Federal Trade Commission (FTC) hit data broker ChoicePoint with a $15 million penalty Thursday for failing to adequately protect the consumer information in its databases. The Atlanta-based ChoicePoint agreed to pay a $10 million fine — the largest in FTC history — and to establish a $5 million consumer restitution fund. […]

A look back at 2005 shows HSBC Finance Corporation’s merchants for what they really are. Ever wonder why this bumbling group of merchants decided to align their customers with a predatory lender such as Household International? Through questionable credit card processing, first with Household International and now with HSBC Finance Corporation (they […]