Household Finance Corporation was purchased as part of Household International Incorporated on March 28, 2003, by HSBC Holdings, PLC. The company merged with Household International Inc. in December 2004, and the merged entity was renamed as HSBC Finance Corporation.
As of 2015, HSBC Finance operates in a variety of financial products, including debt products such as securities, credit ratings and the sale of securities that are backed by assets. The company is run by Kathryn Madison as its chief executive officer. HSBC Finance's board of directors also includes experienced businessmen such as Philip D. Ameen, who is a former vice president at General Electric.