Household HSBC Watch

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 […]

Global Payments Inc., a provider of electronic transaction processing solutions, announced it has agreed to form a joint venture with HSBC Bank plc to provide payment processing services to merchants in the United Kingdom and Internet merchants globally. The new company will operate under the name HSBC Merchant Services. The big question is whether […]

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 […]

After you take the self-serving fluff out the press release, there is some news as HSBC and Loyalty Lab form an alliance. Loyalty Lab formed an alliance with HSBC Finance Corporation’s card and retail services business to extend advanced loyalty and customer retention marketing (CRM) capabilities to retailers that offer private label and co-branded […]

In January HSBC had a problem with transactions when their system went down and credit card purchases were disabled. It happened again over the weekend. Angry retailers have launched a tirade against HSBC after its e-payments system fell over on Friday and stayed down for the whole weekend. Retailers were unable […]

Neiman Marcus is facing off with HSBC Finance - formerly known as predatory lender Household International. What do Neiman Marcus customers have in common with subprime, predatory lending, and late application of payments? Absolutely nothing, but Neiman Marcus selected HSBC Finance as their private label credit card processor. We questioned the move […]

Another HSBC merchant is going out of busiiness. CompUSA, the computer retailer that Mexican billionaire Carlos Slim owned since 2000, will shut its doors after 23 years, succumbing to competition from Best Buy Co. and Wal-Mart Stores Inc. On the CompUSA website it says “Same as Cash offer on approved purchases made on […]

Carrick MollenKamp of the Wall Street Journal follows HSBC closely. His recent article “HSBC a canary in US mortgage mine” appeared on 12 November. It is interesting to note that HSBC helped to start the entire worldwide credit crisis. “…HSBC said souring sub-prime-mortgage loans had forced the bank to add nearly $US2 […]

Much to the dismay of HSBC Finance Corporation their desire to export their “Household Model” to China probably will not produce great credit card profits. In an article from Shanghai, China’s nascent credit card market holds tremendous growth potential but few lenders operating in the world’s fastest-growing major economy expect to make any quick […]

Many suspect a racketeering case will eventually include electronics retailer Best Buy and HSBC. At issue is ongoing compensation to Best Buy due to payments HSBC says are “late” when in fact they are not. However, Best Buy is already wrapped up in a racketeering case, this time with Microsoft. In the […]