Famous HSBC bank, or the ten biggest financial services organization, is well known for the wide range services, such as commercial and mortgage banking, personal financial services, etc. Moreover, it is the 3rd largest provider of so-called sub-prime lending and has got various offers of good and excellent credit card applications that are on the market at the moment.

All of the HSBC credit card deals are usually aimed at different credit consumers that have individual financial and social backgrounds. Moreover, up to the recent times all the clients were fully satisfied with the services the bank provided. But not long ago there appeared complaints from the ethnic minorities, which has greatly disappointed the military member in the US.

HSBC bank was accused of the predatory practices that were targeted at the US military personnel that are on duty in Iraq. How do these practices express? And also how are soldiers affected under this arrangement which is actually a very serious violation of the very Service members' Civil Relief Act?

Those who have ever heard of the Act must know that this act is a legislation that provides the ease of the legal as well as economical pressures ob the personnel that is active on the duty in Iraq, I mean Operation Iraqi Freedom.

In connection with mortgages, loans, and credit cards, the Act requires keeping the interest rates not higher than 6% a year, despite the period of military service that a soldier is carrying.

At the moment, HSBC is floating this rule and keeps the rates too high for most of the military personnel to be able to manage. As a result, they are actually planning to have more revenues from the bad debt rates that are collected with women and servicemen.

Let's just compare, Chase bank that is greatly recognized by the military members for serious caps on the rates and even the complete abolition of the credit card fees for late payments. HSBC bank is blamed by the wives of the soldiers because the bank keeps charging very high rates that are just unmanageable.

The military debts were incurred by means of no fault of the card owners in cases when they were wounded and were unable to make any payments - still they were a subject to the action of debt collectors.

So, as long as HSBC is rather loyal to the other clients' categories, students and businesses, by offering them the lowest APRs, frequent flyer rewards and no annual fees, the military personnel will feel itself rather discriminated.

Therefore, the bank needs to establish a smarter relationship with the US military.

If we stop ourselves from making any conclusions, we can advise the following. It is clear that HSBS is trying to earn more at the expenses of the Iraqi military. But, it should be understood that in order to succeed in the expertise, the bank really needs to have a strong support from the rest of the American loyal customers.