HSBC Wins Toss Of Suit Claiming Penalties Weren't Disclosed

Law360, Los Angeles (January 10, 2017, 6:40 PM EST) -- A New York federal judge sided with HSBC Bank on Monday in a proposed class action alleging the financial institution didn’t warn customers about penalty charges, finding the claims were so thin she didn’t even need to reach the U.S. Supreme Court’s injury assessment in its Spokeo decision.

U.S. District Judge Katherine Polk Failla dismissed Bruce Schwartz’s suit accusing HSBC of violating the Truth in Lending Act by failing to warn on certain monthly statements that his credit card account could be subjected to penalty annual...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Schwartz v. HSBC Bank USA, N.A.


Case Number

1:14-cv-09525

Court

New York Southern

Nature of Suit

Consumer Credit

Judge

Katherine Polk Failla

Date Filed

December 1, 2014

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.