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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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Stop Abuse 2009

15 December
Posted in Stop Abuse 2009
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One Beneficial Finance complaint works out well for two people

Every now and then Household – HSBC Watch receives a follow-up email about a success story. It is a great way to end the year. You can read this man’s original complaint from years ago, sent to us immediately after the death of his mother. The complaint was about Beneficial [...]

23 October
Posted in Stop Abuse 2009
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Consumer Financial Protection Agency passes, more HSBC pressure

By a vote of 39-29, mostly along party lines, the House Financial Services Committee approved a measure establishing a Consumer Financial Protection Agency to monitor mortgages, credit cards and other consumer financial products. Today we published twelve complaints about HSBC, many of which pertained to credit cards. Today’s passage of [...]

20 October
Posted in Stop Abuse 2009
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HSBC breach of trust alleged by customer

HSBC customers often ask difficult questions – but questions demand answers. Specifically, we want to know the number of days in the HSBC billing cycle. For over ten years we have had questions about timely application of payments. Something is wrong at HSBC credit card operations. Here is an example: [...]

2 May
Posted in Stop Abuse 2009
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Same shabby service year after year at HSBC

Does this seem strange to you, or is it another case of regulators sleeping at their desks? From February 2005: I am once again extremely upset with Retail Services. On previous occasions, I have sent my payments by Certified Mail with a Return Receipt (not a free service from the [...]

30 April
Posted in Stop Abuse 2009
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Focus on HSBC credit card abuses

The days of credit card abuse may be numbered, putting extreme pressure on what remains of HSBC Finance and HSBC’s credit card business. The Obama administration yesterday called for an end to unfair credit card industry practices such as retroactive interest rate increases for any reason, late-fee traps that penalize [...]