The following information pertains to the right to recind an agreement between HSBC and a customer. It is quite lengthy, but very interesting. The information comes from the FTC and OCC, respectively, according to the submitter. Case law is included:
I. TILA & Res Judicata
(Analogous to Mr. Curtis xxxxxx , […]
HMC is a wholly owned subsidiary of HSBC, which is a subsidiary of HSBC Holdings Plc. HMC is located in Depew, NY, with a subprime collections unit in Elmhurst, IL. In addition to its U.S. locations, HMC has operations in HSBC’s group service centers (GSC) in Bangalore, India and Manila, Philippines.
The GSC sites perform […]
The latest data on home prices show that the downturn in the housing market is getting worse, rather than better, raising questions about consumers’ ability to keep propping up the economy. American consumers have taken a hit not just from falling home prices, but also rising energy prices and a wobbly stock market. A […]
ResMae was able to attract a buyer because it recognized the industry was in crisis before its competitors, said Edward Resendez, the company’s former chief executive. The company started trying to sell itself early in 2006, before the industry’s troubles caught the attention of Wall Street, said Bill Nolan, senior managing director at FTI […]
“The most recent high profile mortgage distress signal came from HSBC, the world’s third largest bank in marketcap size behind Citigroup and Bank of America. What an unmitigated disaster their acquisition was in 2003 of Household International, a lender to subprime borrowers. HSBC increased their loan loss reserves to $1.38 billion in Q3 from $1.25 […]
The following evolved into a dedicated page. Read “The HSBC Killzone” to see how this evolved.
A question often asked by those harmed and hurt by HSBC is how they determine who to hurt financially. Early in the investigation one could not determine if people were targeted by their credit scores. Common sense […]
An analysis of the contributions shows that senators who voted to pass the bill raised an average of nearly twice as much between 1999 and 2004 from the finance and credit industry as those who voted against the bill. The bill’s supporters received an average of $36,600 from the industry during the six-year timeframe, […]
WASHINGTON (AP) - The Supreme Court made it harder Tuesday for investors to join forces to file high-stakes fraud lawsuits against companies. The 8-0 decision blocks state class-action lawsuits by stockholders who contend they were tricked into holding onto declining shares.
Justice John Paul Stevens, writing for the court, said that to rule […]
Household International and HSBC pushed hard for bankruptcy reform, saying filers were deadbeats and scam artists. We’ve been called worse by Household and HSBC. It turns out they were wrong with their stereotype.
In what will undoubtedly be the first of many “I told you so” reports, the National Association of Consumer Bankruptcy Attorneys […]
In the U.S., HSBC was the bank with the second highest lobbying budget, according to the Public Eye’s LobbyWatch database, moving up from $2,670,000 in 2003 to $4,150,000 in 2004 — despite HSBC’s claims not to buy its way into the political process.
Consumer advocates at Household - HSBC Watch strongly suggest addressing your complaint […]
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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.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
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