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 […]

Shares of Talbot’s Inc. were battered early Wednesday following its disclosure that HSBC is no longer prepared to continue making letter of credit facilities available to the company. A letter of credit essentially substitutes the credit of a third party (usually a large bank) for that of a borrower. Did HSBC Finance attempt […]

Here is another class another class action that involves HSBC, among others. The class action suit states that the credit card companies were hiding fees up to 3 percent in foreign transactions by cardholders outside the US, which is a violation of both federal and state laws. Additionally, the class action suit attempts […]

HSBC has a list of almost 30,000 Farepak customers who could be eligible to claim back millions of pounds lost in the company’s failure, but is barred from alerting them under data protection laws.

Anyone who paid Farepak through Visa or MasterCard is entitled to claim back their money under the chargeback scheme, which repays […]

Payments over the Visa and MasterCard networks involve at least five parties. When a cardholder presents a credit card to a merchant for payment, the merchant swipes the card and transmits the information encoded on the magnetic strip on the back of the card to an acquiring bank (or, sometimes, a third party processor). This […]

Additional DBA (doing business as) Names:
Household Mortgage Services
Beneficial
Household Retail Services
Household Bank VISA
Household Finance Corporation
Household Finance Company
Household Bank FSB
Household Bank Na Illinois
Household Automotive Finance Corporation
H R S
Household Loan
Ameritech Complete Card
Union Plus Card
USWEST Mastercard
Capital Financial Services, Inc.
Union Plus Loan Program
GM Card
Beneficial Finance
Beneficial Illinois, Inc.
Household Finance
Household Finance & Subsidiari
Household Retail Service, Inc
Household Bank (SB, N.A.)
Household Bank Retail Services
Orchard […]

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 […]

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 […]