ALEXANDRIA, Va., Feb. 20, 2013 (GLOBE NEWSWIRE) -- The law firm of Cuneo Gilbert & LaDuca, LLP today announced that it has initiated a class action lawsuit against HSBC Bank USA, N.A. ("HSBC") in the United States District Court for the Eastern District of Virginia that challenges HSBC's overdraft policies and practices.
The suit alleges that, in the guise of "overdraft protection," HSBC not only, without notice to the customer, charges $35 for every debit that overdraws a customer's bank account but that it also maximized these overdraft fees by resequencing the order in which the debits are applied, sometimes over several days, so as to charge the $35 even if the customer had adequate funds in his or her account at the time of the debit. In addition, the complaint alleges that HSBC failed to give its customers the chance to opt in or out of this "protection," or advance notice of the impending overdraft charge so that the customer could refuse the debit or cover it with other funds.
The complaint further alleges that HSBC charged overdraft fees on ATM and debit transactions, although its agreement with its customers states that it will not do this. Thus, the complaint alleges, these practices, far from "protecting" consumers, not only take unfair advantage of HSBC's customers, but also give HSBC the right to collect these exorbitant fees and set off any future deposits against them.
Jonathan Cuneo, an attorney in the firm stated: "We think this is a situation that needs to be addressed, and we look forward to the expedited procedures that the Court is so famous for."
The named plaintiff, Leah Hanes, a California resident, is a longtime HSBC customer who was subjected to these practices.
If you have any additional information pertaining to this action, or have any questions, please contact attorney Jonathan Cuneo, by email at jonc@cuneolaw.com, or by telephone at (202) 789-3960.
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