Atlanta-Area Counties Sue HSBC for Predatory Lending

First money laundering, now this. HSBC is in hot water again.

Three Atlanta-area counties have filed a lawsuit against the British bank HSBC claiming HSBC aggressively signed minorities in their municipalities to housing loans that were likely to fail, adversely affecting their tax base, the Huffington Post reports.

Fulton, DeKalb and Cobb counties say the practices of HSBC has caused them tremendous damage.

“It’s not only the personal damage that was done to people in our communities,” said DeKalb County Commissioner Jeff Rader. “That has a ripple effect on our tax digest and the demand for public services in these areas.”

Read more at the Huffington Post.

ACROSS THE WEB
  • http://www.facebook.com/people/David-Bresett/100000177739366 David Bresett

    HSBC is being sued all over the country for their ignrance and predatory practices. There’s also concern that there so called service people are breaking the “Fair Debt Practices Act” every single day that they either don’t answer the phone or call at inconvenient times. Litigation is the only way to go. This is the year of the lawyer…