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When will law enforcement stop HSBC Madness

Complaints continue to pour in at Household – HSBC Watch regarding HSBC’s predatory lending facility HSBC Finance Corporation. Formerly known as troubled predatory lender Household International, customers of this HSBC subsidiary report the following problems daily, and in mass:

1. Not receiving statements
2. Unable to pay online
3. Payments applied late
4. Unwarranted late fees
5. Interest added during interest free promotions
6. Unexplained address changes to billing address
7. Improper credit reporting
8. Consumer are told to call a telephone number that gives them another telephone number to call.

Issues continue to mount which cause intelligent minds to ask when authorities, regulators, HSBC board members and HSBC management will step in to stop predatory tactics. When will HSBC limit their liability? Do they want to, or do they make so much money every hour that fines and penaties are less than ill-gotten profits? Traditionally companies that rely on high fees and penalties to produce income do not fare well over the long run. HSBC Finance Corporation is one of those companies, and it reflects poorly on HSBC Plc, HSBC North America, HSBC management, shareholders, and the finance industry overall.

Posted By Timothy Blake

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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

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