In Shea v Household (HSBC) it was alleged that customers of HSBC sent payments by mail and those payments were credited one day late. Shea v Household covered 1994 through 2004. HSBC bought stained predatory lender Household International in 2002, finalizing the deal in early 2003, thus HSBC Bank plc bears responsibility for this action.
Archive for » March, 2006 «
Category: 2006 HSBC, In the U.S., Predatory Lending
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The 30-day past-due rate for subprime loans rose from 5.4 percent to 7.1 percent during 2005, ending an eight-year drop, federal data shows. The foreclosure rate for subprime loans, meanwhile, was nine times higher than the prime-market rate last year. RealtyTrac, which tracks foreclosures nationwide, reports that the number of properties entering some stage of foreclosure last month rose 68 percent from a year earlier.
Category: 2006 HSBC, In the U.S., Predatory Lending
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H&R Block, Inc. has been accused of securities fraud. If you are a member of any of their investment plans or profit sharing retirement plans and purchased or held the Company’s stock in one of those plans during the periods January 31, 2005 to March 14, 2006, you may have a claim.
Category: 2006 HSBC, In the U.S., Predatory Lending
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HSBC’s Global Transaction Banking Services business today announced it will provide clients a centralized-secure payment service across Canada, the United States and Mexico. The payment service from one of the world’s largest financial institutions is geared toward clients that need to make payments to trading partners within North American Free Trade Agreement (NAFTA) countries. It especially benefits multinational companies in the automotive, pharmaceutical, technology, logistics, and consumer goods sectors that do business in any of these three markets.
Category: 2006 HSBC, In the U.S., Predatory Lending
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Three years after passing a law intended to curb predatory mortgage lending, the Kentucky General Assembly effectively undid that law yesterday. But legislators disagreed — as do bankers and consumer advocates — on whether the latest action will harm borrowers. The House of Representatives voted 79-16 to enact Senate Bill 45, which Kentucky banks said would make them more competitive with national banks. It exempts state-chartered banks from most Kentucky laws or regulations that don’t apply to national banks.
Category: 2006 HSBC, Predatory Lending
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