Household HSBC Watch

Independencia, a specialist lender to low income Mexican families with more than 1 million clients — read as Subprime — is on their own. HSBC Holdings Plc said on Thursday it is selling its entire 18.68 percent stake in Mexican consumer lender Financiera Independencia to JPMorgan for 1.568 billion pesos (USD$145 million). If […]

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 […]

HSBC Finance Corporation’s card and retail services business has introduced a credit card that gives consumers the opportunity to use earned rewards to make a contribution to a variety of environmental causes. It does not take long to realize that 70 percent consumer dissatisfaction with HSBC credit cards (see our poll) indicates an overall […]

HSBC Holdings Plc, Europe’s biggest bank by market value, dropped to the lowest in almost three months in Hong Kong trading after Morgan Stanley downgraded the stock on concern provisions for U.S. loan defaults will increase. Morgan Stanley expects “a significant jump in credit costs across consumer loan classes,’’ Hong Kong-based analyst Anil Agarwal […]

We have many questions lately about an article we ran a few days ago. According to insiders there have been layoffs at two HSBC locations. Reports are still unconfirmed, thus you should consider this to be rumor or speculation until we see it in the news. Here is what we were told […]

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC […]

The following HSBC press release is somewhat deceiving. There is no HSBC Bank in Prospect Heights Illinois. Prospect Heights is home to HSBC Finance Corporation, formerly known as predatory lender Household International. Perhaps Mr. Bruce J. Hammersley and Civis Financial Group would like you to think otherwise, judging by the press […]

HSBC’s high interest tax loan partner H&R Block Inc. reported a bigger net loss during its fiscal first quarter late Thursday as the tax-preparation company was hampered by loss provisions of more than $100 million in its mortgage-services business. The company said that it had a net loss of $131.4 million, or 41 […]

This customer report is alarming and very revealing. It is consistent with reports since 1994. It also supports charges against HSBC and Household International in Shea vs Household (HSBC). Clearly and without doubt HSBC is lying to this customer. Here is the report:

I feel I am being taken for a […]

HSBC and Household International has two general forms of merchant agreements with vendors. This pertains to your Best Buy credit card, Saks card, and over 60 other merchants. A list is on the bottom of the page. For this one may substitute the term vendor, merchant, and store interchangeably. Once may […]