Sunday
August
30
2015
12:50 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
 
Do you think Joe Biden should run for president?

Yes, I like him
Yes, it will give Hillary Clinton some competition
Only if Clinton's campaign starts failing
No, it will distract from Clinton's campaign
No, I don't like him
Doesn't matter, I'm voting Republican
 
 
 

 
 
  
 
  
 
 
 
 
©2015 Daily Journal - San Mateo County’s homepage