True to form and following rules set up by former predatory lender Household International, HSBC rejects any ideas and suggestions other than their own. HSBC Holdings Plc, Europe’s biggest bank, rejected a call from the California State Teachers’ Retirement System for an outside strategic review. At Household - HSBC Watch - a […]
Further proof that the John Bond - William Aldinger Household International deal of almost five years ago was a stinker is about to slap HSBC hard. Left to there own predatory devices Household International would have gone bankrupt in 2003. As proof of how bad Household International was, it took most other […]
HSBC Holdings shares are undervalued due to unjustified concern over the risk to Europe’s biggest bank from problems with its U.S. mortgage lending, major shareholder Dubai International Capital said on Monday. Sameer al-Ansari, chief executive of Dubai International Capital, which manages more than $7 billion of funds belonging to Dubai’s ruling family, said HSBC […]
HSBC’s high interest tax loan partner H&R Block Inc. reported a bigger net loss during its fiscal first quarter late Thursday as the tax-preparation company was hampered by loss provisions of more than $100 million in its mortgage-services business. The company said that it had a net loss of $131.4 million, or 41 […]
Fiduciary duty - the legal requirement that brokers and lenders act in a customer’s best interest - was missing from Ameriquest, Household International, and HSBC. Consumer advocates had more credibility because what they said four years ago came true. Trend analysis by Household - HSBC Watch revealed nation-wide problems before those problems […]
Just one week ago, a three-member arbitration panel cleared Kmart’s former chief executive, Charles C. Conaway, of alleged fraud, mismanagement and corporate looting. Now, the U.S. Securities and Exchange Commission has accused Conaway and former Chief Financial Officer John T. McDonald of misleading investors about the discount retailer’s finances. Conaway and McDonald stand […]
August 2005 - ‘Bad debts have risen far more markedly - to 5.5% from 3.6% - at HFC, the British operation acquired by HSBC when it took over Household International of the US in 2002. That division caters to customers with a lower income than those serviced by the mainstream bank, and the worry is […]
Consumer watchdog organization Household - HSBC Watch presents these changes for April within HSBC. In our opinion information from New York pertains to banking, while information from Prospect Heights Illinois pertains to the old troubled and disgraced predatory lender Household International, now called HSBC Finance Corporation, and should be categorized under finance companies. […]
Peter Eavis wrote on 3/10/2005: “History shows again and again that lending companies that use punitive tactics don’t do well over time. Two good examples come to mind. First, the old Conseco, which charged insufferably high interest rates on loans for mobile homes. The company filed for bankruptcy in late 2002 primarily because of […]
With record profits announced in England by HSBC, there have been mutterings that banks should be subject to a windfall tax to mop up some of their excess funds. So, naturally enough, they are getting sensitive. HSBC hurriedly put out figures meant to dowse any flames suggesting excess profits, claiming it made just £77 for […]
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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.
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