@DaveInAZ wrote:
No, HSBC sold off their credit card division in 2002 or 2003, well before the 2008 recession. They weren't so good at verifying customer identity and got caught with drug cartels using them to launder funds. They left the US for a couple years. Now they're back and fanatics about identity verification.
My information was accurate. They completed the acquisition of Household International's credit card operations in 2003, sold off the UK component in 2007, and sold off the US component to Capital One in 2011.
Acquistion announced in 2002:
https://www.theguardian.com/business/2002/nov/14/money
Sale of US operations to Capital One announced in 2011:
https://www.theguardian.com/business/2011/aug/10/hsbc-sells-us-credit-card-business-to-capitalone
They also spent over $1 billion a few years ago to settle a class action lawsuit stemming from the original acquistion 2003.
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