The general public received news of HFC and Beneficial Finance branch closings, confirming what we’ve know for some time. HSBC said it would close or consolidate up to 260 more consumer-lending branches by the end of the year. HSBC already was closing or consolidating 100 offices this year.
HSBC Finance Corp., the bank’s U.S. consumer-finance business, will be left with about 1,000 branches under the Beneficial and HFC names. When Household – HSBC Watch first reported this information we received angry emails from nervous employees. Some said we were unfairly effecting the lives of those who wanted more information, or reassurances that we were wrong. According to the Journal and many other sources we were not wrong when we predicted HFC and Beneficial branch closings. 360 Beneficial Finance and HFC offices will go away, and some say that is only the beginning.