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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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    • Notification of foreign call center transfers

    Here is some news that will certainly effect HSBC in the United States. In a bid to reduce outsourcing of U.S. jobs, a Democratic senator said on Sunday he will push legislation to make companies inform customers when their calls were being transferred outside the United States and charge companies for those transferred calls.

    “This bill will not only serve to maintain call center jobs currently in the United States, but also provide a reason for companies that have already outsourced jobs to bring them back,” Senator Charles Schumer said in statement.

    Customers calling 800 numbers are often transferred overseas, and in such cases the bill would mandate that callers be told where their calls were rerouted.

    Companies would also be required to certify to the Federal Trade Commission annually that they were complying with the requirement, and face penalties if they did not certify.

    Posted By Timothy Blake

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    UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off