Atlanta-Area Counties Sue HSBC for Predatory Lending

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.