When Ms. Marshall got a $6,000 home-improvement loan from a credit union in April 2003, she had to pay relatively high interest because of a weak credit score. The credit check had showed a court ruling ordering her to pay overdue rent to a former landlord in a Washington, D.C., suburb. But the judgment had been caused by a court error and vacated by a judge — facts that didn’t make it into her credit history. It turned out that a ChoicePoint contractor at a courthouse hadn’t properly updated the file, and that Equifax, the credit bureau, purchased the erroneous entry from ChoicePoint.
Archive for » May, 2005 «
In a California settlement for Californians only, The Court has certified a class and preliminarily approved a settlement in a case called UCAN v. Household Credit Services, Inc. In this lawsuit, plaintiffs claim that Household Credit Services, Inc. (”Household”) now known as HSBC Card Services Inc. improperly disclosed customers’ confidential information to third parties, and that it misrepresented to consumers the scope and nature of its customer privacy policy. Plaintiffs allege that these disclosures violated California law and Household’s privacy policy. HSBC will pay $1.4 million.
Category: 05 Aldinger, 05 All Articles, 05 Compliance, 05 Research
Leave a Comment
David Fleming, national officer for the union, said staff were striking because a “derisory” pay offer had been imposed on them. “We regret any inconvenience to customers but the efforts we have made to resolve this dispute have fallen on deaf ears. The bank has simply refused to listen to its staff.”
Category: 05 All Articles, 05 Worldwide
Leave a Comment
“At present, HSBC does not expect to close any branches” because of the strike, said spokesman Richard Lindsay in an e- mailed statement yesterday. “The bank does not expect any disruption to telephone, internet or ATM banking services.”
Barclays warned yesterday of falling profits in its credit card division due to customers missing repayments and increasing bad debts. The news, from the country’s biggest credit card lender, confirmed fears of a severe downturn in consumer confidence and left banking shares among the biggest losers of the day.
Category: 05 All Articles, 05 Worldwide
Leave a Comment
