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Are Americans showing HSBC their disgust for predatory lender Household International, now part of HSBC and called HSBC Finance Corporation? Are HSBC customers tired of late fees and not receiving statements each month? “It appears so based on earnings” said consumer watchdog organization Household – HSBC Watch. “reputation also has a lot to do with it, and our organization tells people every day that HSBC Finance Corporation is the new name of disgraced and troubled predatory lender Household International.
Bank of America Corp. and Wells Fargo & Co., the No. 3 and No. 5 U.S. lenders, posted record fourth-quarter profit as consumer lending, including credit cards and home equity loans, climbed and customers opened more checking accounts generating fees.
A competitor to HSBC’s Household, Wells Fargo Financial, which lends to individuals with short or blemished credit histories and handles leasing and private-label credit cards, earned $129 million, 8 percent more than the fourth quarter of 2003.
Household – HSBC Watch does not recommend or endorse any of the institutions mentioned in this article.
This article, HSBC Competitors Growing Stronger, is just one of our articles from our Bank Horror Stories, HSBC Secrets Part 3
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
