Our headlines screamed: “HSBC posts Boscov payment one day late” and “HSBC loses customer for Boscovs due to late payment processing” and “Boscovs and HSBC Forgets To Mail December Bill.” Now Boscov’s has filed for bankruptcy. The formula is simple: When a merchant signs a contract with HSBC for credit card […]
A retired HSBC employee sent this note: “Good luck HSBC. California got Countrywide today for misleading loans. HSBC was exactly the same.” The statement addresses an area we have been studying for over a year. One of the Household - HSBC Watch team members has a Countrywide loan and has […]
Once upon a time — back before the crying, wailing, and sobs of subprime lending — HSBC plc said the bank did not spend money on lobbying and attempts to influence legislation. Certainly William F. Aldinger spent money to do so in the United States, as his predaotry little company (Household International) was purchased […]
Global Payments Inc., a provider of electronic transaction processing solutions, announced it has agreed to form a joint venture with HSBC Bank plc to provide payment processing services to merchants in the United Kingdom and Internet merchants globally. The new company will operate under the name HSBC Merchant Services. The big question is whether […]
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 […]
HSBC can submit as many press releases about planting trees, green offices, and gifts for credit card holders as they desire. Did HSBC ever think that those cute articles are negated by real news? For example, this article is quite astonishing: “Security-incident prone bank HSBC has admitted losing a server containing transaction […]
Neiman Marcus has settled a lawsuit with HSBC Finance, the operational unit of HSBC formerly known as Household International. The lawsuit pertained to private label credit cards - the cards issued by HSBC Finance (HSBC NV) containing the Neiman Marcus name instead of HSBC’s name. Part of HSBC’s private label credit card agreements […]
We wonder why HSBC is raising credit card interest rates for some customers. No information is given, other than “it was a business decision.” Others call it predatory lending - a term that HSBC Finance (formerly Household International) is very familiar with. The federal government lowered the interest rates to a point […]
We invite everyone to rate their HSBC backed credit card at Household - HSBC Watch. Here are the ratings thus far:
The best: 14% (351)
Good: 7% (176)
Fair: 6% (152)
Poor: 14% (356)
Totally Unprofessional: 60% (1541)
Total Votes : 2576
The number in parenthesis is the total number of votes for the category. It seems like a […]
Merchants are furious at HSBC UK after the bank’s e-payments system failed again, for the second time in two weeks. Similar problems left merchants unable to take payments for two days over the weekend of 29-30 March. Complaints from merchants at that time focused on the fact that HSBC did not contact […]
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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.
Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.
