Federal Judge Certifies $23.5 Mil. Class Settlement With HSBC
Posted By Golomb & Honik
A judge of the Federal Court has approved a $23.5 million class settlement with HSBC Business Bank in a case in which the bank is alleged to have engaged in deceptive practices in administering its “debt suspension” and “debt cancellation plans.” The judge approved the settlement amidst objections from the attorneys general for Mississippi, West Virginia, and Hawaii. ...
PNC Among Banks Changing Policies Following Lawsuits Over Overdraft Charges
Posted By Golomb & Honik, P.C.
Beginning December 1, PNC Bank will cease the reordering of debit card transactions and checks in order of highest amount to lowest, a practice consumer groups have long decried as a deceptive way to collect more overdraft fees. Debt transactions and checks will now be processed in the order they come in under the new policy. PNC agreed to pay $90 million earlier this year to settle a federal ...
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