HSBC Dodges Class Action Over Billing Disclosures

Law360, Los Angeles (October 18, 2013, 10:13 PM EDT) -- A New York federal judge on Friday tossed a proposed class action alleging HSBC Bank USA NA made improper disclosures of interest rate fees on credit card bills and wrongly assessed late fees, ruling the suit hadn't stated a claim for which statutory damages could be recovered. 

U.S. District Judge Paul Engelmayer granted HSBC's motion to dismiss Bruce Schwartz's amended complaint, ruling none of Schwartz's three allegations of Truth In Lending Act violations presented a valid claim for relief. 

Schwartz sued HSBC in February, claiming the...
To view the full article, register now.