HSBC, NAACP Strike Deal Over Lender Bias Class Action

Law360, Los Angeles (November 14, 2011, 7:25 PM EST) -- The NAACP on Monday told a California federal judge that it has agreed to settle a class action alleging HSBC Mortgage Corp. (USA) discriminated against black customers by requiring them to pay higher prices for subprime loans than their white counterparts.

Richard L. Kellner of Kabateck Brown Kellner LLP, an attorney representing the civil rights organization, said they planned to have a deal finalized within the next several days and hope to submit an order to dismiss the case against HSBC within two weeks, adding that...
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