Household HSBC Watch

Kansas City - Jackson County Missouri - HSBC paid out another court settlement thanks to Household Finance and high fees on a second mortgage. When HSBC thought it was a good idea to buy subprime mortgages and second mortgages from anybody and everybody, they should have looked carefully at what they were buying. […]

HSBC’s high interest tax loan partner H&R Block Inc. lost $156.5 million during its second quarter, nearly twice its loss from a year ago, primarily because of weaker results in its mortgage business.

The Kansas City-based company said it continues to weigh a sale or spinoff of its Option One Mortgage business, which makes home loans […]

Most sued and former executive of HSBC and CEO of predatory lender Household International William F. Aldinger III once boasted that his company ‘invented tax refund loans’ - and they are proud of it. Household, and later HSBC, partnered with H&R Block. H&R Block CEO Mark Ernst appeared eager to turn the […]

KANSAS CITY, Mo.–(BUSINESS WIRE)–Nov. 17, 2005–H&R Block Inc. (NYSE:HRB) today reported a net loss of $72.2 million, or 22 cents per share, for the second quarter of fiscal 2006 compared with a loss of $49.9 million, or 15 cents per share, in the year-ago quarter. Revenues in the quarter rose 14 percent to $620.4 million […]

All California Good Guys stores close, while home entertainment products and expertise expand within CompUSA locations. In response to consumer buying preferences and demands, Good Guys is closing the doors to its 46 locations. n According to GoodGuys.com “After more than 30 years of providing the best in high-end entertainment products, along with unmatched […]

Kansas City - August 25, 2005 - News Release
Sources who prefer to remain unnamed report that William F. Aldinger’s assistant still does work for Aldinger while paid by HSBC. Whether part of Aldinger’s retirement package or for some other reason Mary Hicks continues to do work on behalf of Aldinger while paid by HSBC […]

KANSAS CITY, Mo. - H&R Block Inc. has tentatively agreed to settle a class-action lawsuit over its tax-refund loans for $360 million. The nation’s largest tax preparer and its banking partner, HSBC Taxpayer Financial Services Inc., were accused of gouging customers by providing “refund anticipation loans” at interest rates frequently exceeding 100 percent. […]

In another blow to HSBC’s reputation thanks in part to Household International, just this week, HSBC came under fire by more than 100 national and New York-based consumer organizations and community groups calling for state restrictions on “tax refund anticipation loans” and the high amounts of interest and administrative fees charged for them. According to […]

The following was sent to the OCC and FBI on behalf of consumers:
Office of the Comptroller of the Currency
1301 McKinney Street
Suite 3450
Houston, Texas 77010-9050

And
Federal Bureau of Investigation
Attn: RICO Investigations
1300 Summit
Kansas City, Missouri 64105-1362
SUBJECT: HSBC NORTH AMERICA AND HSBC FINANCE CORPORATION
The purpose of this communication is to confirm the accuracy of consumer complaints relative to Household […]

The Kansas City Saks store is closing. In October 2004 Saks Fifth Avenue Enterprises , a business segment of retailer Saks Incorporated , announced it intends to close eight Saks Fifth Avenue stores and three Off 5th stores. Saks receives ongoing compensation from scandal plagued Household International.

Consumer watchdog organization Household Watch reminds consumers that […]