Political situation
Written by: Yang Qian
2021-01-02 08:20
Last update date: 2021-01-02 15:30
Xu Zhifeng, a former legislator in exile in the United Kingdom, posted on FB this morning that HSBC unilaterally and without notice canceled all HSBC credit cards for him and his family because of the bank's "commercial decision."
Xu pointed out that HSBC had political considerations and was suspected of embezzling the balance, and urged HSBC to publicly explain the incident and request the regulator to investigate.
Xu Zhifeng alleged that HSBC cancelled all credit cards for him and his family.
(Xu Zhifeng FB)
Xu Zhifeng FB posted that all HSBC credit cards of him and his family had been unilaterally cancelled by the bank without notice because of the bank's "commercial decision."
He said that HSBC stated that the outstanding balance in the credit card will be deducted from the account; on the contrary, if there is a balance, the money may not be returned to me, and he asked me to call "see what the bank can do" later.
Xu said that according to the government's public statement, the police never asked HSBC to cancel the credit card accounts of him and his family.
The decision to abolish the credit card is HSBC’s own political considerations and political decisions, aimed at assisting the regime to crack down on opposing voices, and it has no legal basis.
The credit cards of his and his family members are all due to consumption refunds. The surplus is more than the debt. The balance (about tens of thousands of Hong Kong dollars) is private property protected by Hong Kong’s Basic Law and is now illegally embezzled by HSBC without any explanation .
Xu Zhifeng (Profile Picture)
He said that he and his family have been HSBC's premier wealth management customers for decades, and they have always had a good credit record. In the past, property mortgages and mortgage payments were handled through HSBC.
Now, under a "business decision" that has nothing to do with credit, "banks cancel their customers' credit cards at will, embezzle assets, and act like robbers." The experience reflects the business community's dependence and compliance with the regime under the National Security Law, which can completely override laws and policies. .
Xu Zhifeng solemnly asked HSBC to publicly explain the incident and asked the regulator to investigate, otherwise it would consider other international follow-up actions.
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Xu Zhifeng HSBC Bank