Thursday
December
18
2014
9:19 am
Weather
  Search Again
  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
Ga. counties sue HSBC claiming loss of tax base
December 25, 2012, 05:00 AM The Associated Press
ATLANTA (AP) — Three Atlanta-area counties have filed a lawsuit claiming that British bank HSBC engaged in predatory lending that ended up costing them hundreds of millions of dollars.

Fulton, DeKalb and Cobb counties say the bank aggressively signed minorities to housing loans that were likely to fail. The counties say that caused tremendous damage, including extra expenses and lost tax revenue.

The lawsuit says the banks violated the Fair Housing Act. That law provides protections against housing or renting policies or practices that discriminate on the basis of race, color, national origin, religion, sex, family status or handicap.

A lawyer for HSBC said he couldn’t comment on the lawsuit, which was filed in October. A federal judge has given the bank until Jan. 25 to file a response.


Print this Page Print this Page |  Bookmark and Share
<< Back
 
  


 
You are in the Archives

Exit
  RSS feed RSS
Daily Journal Quick Poll
 
What do you think of Cuba and the United States re-establishing diplomatic ties?

It's about time
We'll see how it goes
Makes sense
Don't like it
I guess the Cold War is over
Does this mean Cuban cigars will be cheaper now?
 
 
 

 
 
  
 
  
 
 
 
 
©2014 Daily Journal - San Mateo County’s homepage