The bank with the largest subprime losses to date, HSBC, is the subject of customer input today. At the same time a spot check of HSBC credit card customer satisfaction shows a 77 percent disapproval rating. Watchdog organization Household – HSBC Watch, established in 1999, receives customer reports and publishes the reports after a brief editor review.
Today an HSBC customer in Washington tells how HSBC effectively stripped seven years of equity from his home after he refinanced through HSBC’s Beneficial division. Another HSBC customer in Oklahoma tells how his bank made and confirmed automatic payments to HSBC, but HSBC claimed they stopped receiving payments. According to the Oklahoma customer HSBC raised his interest rate, lowered his available credit, and reported him to the credit bureaus. (see more)