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Violation Tracker Individual Record

Company: HSBC Bank USA N.A.
Current Parent Company: HSBC
Penalty: $23,500,000
Year: 2012
Date: November 20, 2012
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Violation Description: HSBC agreed to pay over $23 million to settle litigation alleging it misled customers about credit card insurance policies or signed them up for the service without their knowledge.
Level of Government: federal
Action Type: private litigation
Court: Eastern District of Pennsylvania
Civil or Criminal Case: civil
Case ID: 2:10cv3213
Case Name: Esslinger et al v. HSBC Bank USA Inc. et al
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.