Meet Jen from the Problem Solvers TeamHi, I'm Jen and I'm here to help. Submit your complaint here or get help here
The Office of the Comptroller of the Currency, the federal banking regulator, filed a lawsuit claiming that New York Attorney General Eliot Spitzer is exceeding his authority with his probe into the banks’ lending practices and interfering with its supervisory powers. Consumer advocates at Household – HSBC Watch claim Spitzer’s probe has absolutely nothing to do with the OCC’s supervisory powers. “The OCC said there are no issues of predatory lending relative to banks under their control, yet HSBC, Household International, Beneficial Finance, HFC and others lead one to believe that statement is questionable at best. Blocking Spitzer to save face hurts the American people” said the group. “The OCC needs to take some action of their own relative to complaints about HSBC” the group went on to say.
This article, OCC Seeks To Protect HSBC Lending, 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.
One Comment
My wife Daphne and I are senior citizens and have been having a difficult time with HFC since we refinanced our home mortgage with them in 1997 at a rate of 16% until 2003. Since Nov, For the past 2 years, after attempting to refinance elsewhere, my interest rate dropped to 7.8%, but it was only then disclosed to me that because of “deferred” interest at 16% totalling over $90,000. I again have an opportunity to refinance elsewhere for 5.2%. During the same 7 yr. period, my principal dopped by less than $4000. I intend to payoff the total balance with my new refinance loan, but I WILL need help in pursuading HFC to cancel or drastically reducing the deferred interest. Thanks.