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 […]
Marks & Spencer has warned that, because of poor Christmas trading, its annual profits would fall at least £50 million short of forecasts. HSBC announced that HSBC Finance Corporation, a subsidiary of HSBC would manage credit card operations for the troubled retailer. U.S. consumer advocacy organization Household - HSBC Watch said many […]
Articles continue to appear in the British press regarding Marks and Spencer. It appears the ailing retailer announced the departure of four main board directors and two other senior executives. HSBC subsidiary HSBC Finance Corporation acquired the firm’s credit card portfolio. As part of the deal Marks and Spencer receives fifty percent of […]
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 […]
Sandra Derickson, a Household vice chairwoman, claimed Household’s and HSBC’s expertise in U.S. and U.K. private-label store cards paid off this fall when Household acquired British department-store chain Marks & Spencer Group’s credit card business. Saks was credited.
US consumer advocacy organization Household Watch points out that when Saks signed on with Household a Saks press […]
HSBC became the UK’s third biggest credit card issuer in July 2004 behind Barclays and Royal Bank of Scotland with the acquisition of Marks and Spencer Retail Financial Services for £762m.
Monitors in the United States are waiting to see if HSBC uses the tactics seen in the U.S., such as applying payments late, putting received […]
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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.
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