Household HSBC Watch

According to the Star Telegram, three credit cards to avoid are First Premier Bank (the card’s first-year fees add up to $276), HSBC American DreamCard (which has a steep 15 percent to 22 percent APR) and New Millennium Visa or MasterCard (which has no grace period to repay purchases or cash advances before a finance […]

Once again HSBC attracts attention somewhere while trying to get away with something. This time it is not in the Unted States, where HSBC Finance seems to attract more attention than the rest of HSBC around the world put together. GRTU is accusing HSBC and BOV of “abusing their dominant market position and […]

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 […]

According to a group of prominent bankers, a lawsuit brought by retailers in the US alleging a number of major credit card issuers and banks colluded to fix processing prices will have far reaching consequences for the industry at large if it is successful. The group of international bankers, Reuters reports, has warned that […]

WASHINGTON - The Federal Trade Commission (FTC) hit data broker ChoicePoint with a $15 million penalty Thursday for failing to adequately protect the consumer information in its databases. The Atlanta-based ChoicePoint agreed to pay a $10 million fine — the largest in FTC history — and to establish a $5 million consumer restitution fund. […]

Read the last paragraph of this press release. As you read this article remember that HSBC North America Holdings is, in part, former predatory lender Household International sporting a new name.

PROSPECT HEIGHTS, Ill. and NEW YORK, Dec. 23 /PRNewswire-FirstCall/ — HSBC — North America Holdings, Inc. and American Express today announced an […]

BY SHERYL JEAN, Pioneer Press
A handful of top executives at Metris Cos. received pink slips Thursday as the credit card issuer became part of finance giant HSBC Group, and more are expected in the coming months. Chief Executive David Wesselink, credited with turning around a company once on the brink of bankruptcy, is gone. […]

This is from Fitch, on November 3: “Fitch Rates HSBC Automotive Trust 2005-3 [which] marks HSBC Automotive Finance Corp.’s (HAFC) 17th Fitch-rated securitization backed by retail loans to subprime borrowers… As of Oct. 23, 2005 (the cut-off date), the receivables consisted of $1.37 billion in loans to subprime borrowers with weighted average FICO scores of […]

By Jason Nisse Published: 04 September 2005
HSBC has been accused of being part of a cartel which has forced up fees and restricted consumers’ rights in the US credit card market.

Two lawsuits, filed in New York and Pennsylvania, have claimed that eight banks plus American Express came together to agree on a fee structure […]

7/13/2005 - Metris has been notified that the staff of the Securities and Exchange Commission plans to recommend that a civil injunction be brought against the company for possible violations of federal securities laws. In a press release late Tuesday, Metris said it received what’s called a Wells notice from the SEC staff in […]