HSBC Bank USA will add $2 million to the $30 million it previously agreed to pay to settle a lawsuit about overdraft fees, placating four law firms who had objected to the deal, according to a filing in New York state court. The extra $2 million ends a long dispute between two teams of lawyers who had pursued parallel lawsuits against HSBC for allegedly manipulating checking transactions to boost charges for overdrawn accounts. To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/1VI02ry
HSBC USA is to add $ 2 m to the $ 100 m it previously agreed to settle a lawsuit over legal fees , thereby placating four law firms who had objected to the original deal ; this ends a long dispute over allegations HSBC manipulated checking transactions to avoid charges for overdrawn accounts .