HSBC Heaps On Interest Charges In Leap Years: Suit

Law360, New York (July 22, 2008, 12:00 AM EDT) -- An HSBC Card Services Inc. credit card holder has filed a proposed class action alleging that the company wrongly calculated interest charges during leap years, overcharging millions of customers in the process.

The lawsuit, which was filed Friday by Cuneyt Duru in the U.S. District Court for the Southern District of Florida, says that the damages of the proposed class members will exceed $16 million.

HSBC “is choosing to take advantage of millions of U.S. consumers by surreptitiously employing, every leap year, a patently unfair method...
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