0846 GMT [Dow Jones] US federal judge blocks a proposed $360M settlement of a class-action lawsuit filed in Chicago against HSBC Holdings (HBC) unit HSBC Taxpayer Financial Services, and H&R Block related to refund anticipation loans, H&R Block said Fri. HSBC not immediately available to comment. “Could the settlement turn out to be larger? Potentially,” says analyst. But it’s a fairly small worry given HSBC’s size and the matter is unlikely to affect HSBC’s share price, he says. Shares +0.46% at 872.125p. (NHL)
“Another travesty of Household International and predatory lending” said HSBC Watch. “When tactics and consumer reports indicate more suits and settlements may be possible HSBC should not adopt and attitude as reflected above.”
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