Kansas City – August 25, 2005 – News Release
Sources who prefer to remain unnamed report that William F. Aldinger’s assistant still does work for Aldinger while paid by HSBC. Whether part of Aldinger’s retirement package or for some other reason Mary Hicks continues to do work on behalf of Aldinger while paid by HSBC and working at corporate headquarters of HSBC Finance Corporation. HSBC Finance Corporation is the former Household International, well known for predatory mortgage loans. Aldinger recently retired from HSBC one year earlier than planned and was recently appointed as the eleventh member of Charles Schwab’s board of directors.

“Preliminary analysis of Aldinger’s appointment at Schwab indicates perhaps Schwab, who is losing market share, will perhaps break into predatory lending, banking, or sub-prime lending of some type” said Household – HSBC Watch. “Schwab did this to themselves when they decided they needed an eleventh board member, held a special meeting, and appointed the king of predatory lending. HSBC wanted MBNA but Bank of America beat them to it. Now we think HSBC may want to buy Charles Schwab” the consumer advocacy group said.