Household HSBC Watch

With the United States in a recession the double-speak is interesting. Some call the recession of 2000-2001 a “mini-recession.” Now HSBC’s Douglas Flint has a “technical recession.” HSBC finance director Douglas Flint said: “The issue now is the US slowdown and whether it enters a technical recession, and what that does to […]

Here is an interesting HSBC article from London:
Britain’s biggest bank is diverting poorer customers to foreign call centres while more profitable clients are dealt with in the UK. HSBC has admitted filtering calls from its 8.5million customers with current accounts and transferring them after assessing factors such as monthly income and credit rating.

The […]

The three credit bureaus insist a new scoring system, called VantageScore, will simplify the credit-granting process. However, they have released so few details about it that industry officials and consumer activists said that the credit-application process could become more confusing for consumers, certainly in the short-term and possibly longer.

One reason: VantageScore will use a […]

EILEEN POWELL of the Associated Press said:
The three major consumer credit reporting agencies announced Tuesday that they have created a new credit scoring system aimed at simplifying the loan process for both lenders and borrowers.

The announcement by Equifax, Experian and TransUnion said the new “VantageScore” was “a direct result of market demand for a more […]

Have you seen a funny quote from someone in an obvious sate of denial? Let us know.
“Household’s position on predatory lending is perfectly clear,” said Gary Gilmer, president and CEO of HFC and Beneficial. “Unethical lending practices of any type are abhorrent to our company, our employees, and most importantly, our customers.” (Well, he got […]