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Art Van Furniture Extends Private Label Credit Agreement With HSBC

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HSBC Retail Services Extends Agreement with Art Van Furniture HSBC - North America's retail services business has extended its long-term agreement with Art Van Furniture to provide a private label credit card program. Art Van operates 29 stores in 28 cities throughout Michigan. Since 1980, HSBC and Art Van have partnered to offer Art Van customers financing solutions for purchasing furniture, bedding and accessories for their entire home. In 2001, Art Van and HSBC enhanced the private label program by adding electronic signature capture for point of sale credit applications. Instead of filling out a paper application, a sales associate enters the guest's information into Art Van's system, and the guest simply signs the signature pad. HSBC provides a credit decision within seconds, along with a credit line so that the customer can use their new buying power immediately. In 2005, features were added to the program to improve online credit program applications and allow, for the first-time, online purchases that are both simple and secure. "We are pleased to continue our successful partnership with Art Van," said Richard Klesse, managing director of client relations for HSBC's retail services. "Together we are developing new programs that give Art Van's customers innovative service that grows both business and customer satisfaction. That is a winning solution for all involved." "Art Van Furniture continuously investigates options that make the guest buying experience enjoyable and convenient," said Dick DeMarco, consumer finance director for Art Van Furniture. "Our relationship over the years with HSBC has allowed us to serve our guests well and we look forward to continuing this working partnership." About Art Van Art Van Furniture is a family-owned company that started with one small 4,000 square foot store in 1959. Today, Art Van is Michigan's largest furniture retailer and America's largest independent furniture retailer, operating 29 stores in 28 cities throughout Michigan. The company offers furnishings for the entire home and has won several local and national awards for their operations and community involvement. For more information, visit www.artvan.com. About HSBC Retail Services HSBC Retail Services is a leading issuer of private label (merchant branded) credit cards in the United States. This business provides flexible, customized credit card solutions for many of the world's premier retailers and manufacturers and has more than 60 active merchant relationships. For more information, visit www.hsbcretailservices.com. About HSBC - North America HSBC - North America comprises all of HSBC's U.S. and Canadian businesses, including the former Household businesses. The company's businesses serve nearly 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands. For more information, visit: www.hsbcusa.com.

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