HSBC Says Its Overdraft Fee Policy Is Transparent

Law360, New York (February 27, 2013, 2:12 PM EST) -- HSBC Bank USA NA asked a New York federal judge Tuesday to toss a proposed class action alleging it improperly maximized overdraft fees by processing customers' largest transactions first, saying its policy is transparent and allowed under the National Bank Act.

The motion to dismiss, which echoes defenses put forward by other banks facing similar suits across the country, says the complaint from depositor Darek Jura is doomed because HSBC has broad latitude under the NBA to decide the order in which it deducts payments authorized...
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