Why is this important? Because William F. Aldinger is on the board of directors at AT&T, and was also CEO of Household International, and Chairman and CEO of HSBC USA. HSBC has the same mandatory binding arbitration, and William F. Aldinger has his law degree and thus would advise AT&T in some capacity. […]
Federal Register / Vol. 70, No. 24 / Monday, February 7, 2005 / Rules and Regulations take effect on April 8, 2005. Appearing to take direct aim at HSBC Finance Corporation and other predatory lenders, watch for profits to drop even more at the former Household International, claims advocacy organization Household - HSBC Watch.
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HSBC and wholly owned subsidiary Household International still make the borrower submit to binding mandatory arbitration. CitiGroup does so as well.
While Household - HSBC contends that binding arbitration makes it easier for the consumer to get results and “funds” it does not look at the statistical results of binding arbitration.
Similar to knowing which cards […]
“In a climate of increased concern about the transparency of corporate practices, I hope Household will consider publishing progress reports…”
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An open letter to HSBC, Knight Vinke and Stephen Green
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