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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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HSBC Direct Merchant Scandal Is One Man’s Mission

W. J. says this about HSBC Direct Merchants Bank:  “I am a typical victim of this HSBC Direct Merchant scandal. With a court order, it can be proven they did something seriously illegal and broke their promise. Long story short, I did something to the checking account I set up online to make payment to them. They eventually deleted the checking account information without my knowledge. That way, they caused a late payment and raised APR promptly. I spoke to a representative, he promised over the phone the APR would be restored to promo level. I did not notice they had been actually charging me based on bloated APR until about 5 months later. I paid off everything except the financial charges based on the high APR. They have been using the dirtiest  harassing and FUD techniques.
I am now devoted to any course that will bring HSBC Direct Merchant to its justice, through any means (Comptroller, FDIC, individual lawsuits, class action lawsuits and many others). I would like to see a day in the near future that will catch national attention about this scandal and the authority will deeply investigate its history (fed and local governments, congressmen, senators), shut them down and bring to responsible individuals to criminal charges. Please let me know what I can contribute. I am starting my personal efforts to explore different possibilities.”
Editor’s note:  Metris became a wholly-owned subsidiary of HSBC Finance. issues credit cards through Direct Merchants Credit Card Bank, N.A… HSBC Finance Corp was Household International. 
Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

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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