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...
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