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Violation Tracker Individual Record

Company: HSBC Bank U.S.A. N.A.
Current Parent Company: HSBC
Penalty: $32,000,000
Year: 2016
Date: October 18, 2016
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Mega-Scandal: Overdraft Fees
Violation Description: HSBC agreed to pay $32 million to settle litigation alleging it charged improper overdraft fees.
Level of Government: state
Action Type: private litigation
Court: Supreme Court of New York County
Civil or Criminal Case: civil
Case ID: 650562/2011
Case Name: In re: HSBC Bank USA NA Checking Account Overdraft Litigation
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.