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Household Finance Corp. was founded in 1878 by Frank MacKey of Minneapolis, Minnesota. It claims that in 1895 it was the first financial company to offer the installment plan, under which a consumer loan could be repaid through a regular monthly amount rather than a lump sum on the due date.
Number of locations. 148 Branches (until Feb 18, 2022) 20-25 International Wealth Center (Beginning Feb 22, 2022) ... HSBC Bank USA, ... Marine Midland acquired ...
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Beneficial downsized this business and emphasized its second mortgage business. [3] In 1998, the company was purchased by Household International, Inc., for about $8.25 billion in stock. [5] Household International was in turn acquired by HSBC Group in 2003, and made a part of the HSBC Finance Company.
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