Cuneo Gilbert & LaDuca, LLP, and Cotchett, Pitre & McCarthy, LLP Appointed Interim Co-Lead Counsel in HSBC Overdraft Fee Litigation

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| Source: Cuneo Gilbert & LaDuca, LLP

WASHINGTON, July 23, 2013 (GLOBE NEWSWIRE) -- The law firms of Cuneo Gilbert & LaDuca, LLP and Cotchett, Pitre & McCarthy, LLP, along with two other firms, were appointed interim co-lead counsel yesterday in the consolidated litigation against HSBC Bank USA, N.A. in the United States District Court of the Eastern District of New York, In Re: HSBC Bank USA, N.A. Debit Card Overdraft Fee Litigation, Case No. 2:13-md-02451-ADS-AKT.  Cuneo Gilbert & LaDuca, LLP and Cotchett, Pitre & McCarthy, LLP represent plaintiff Leah Hanes in the consolidated action.

The litigation challenges HSBC's overdraft policies and practices. The complaint alleges that HSBC charges $35 for every debit that overdraws a customer's bank account, and that HSBC maximizes these overdraft fees by re-sequencing the order in which the debits are applied over several days from highest to lowest. According to the complaint, excessive overdraft charges occur even if the customer has adequate funds in his or her account at the time of the debit. The complaint also alleges that HSBC failed to give its customers notice of these overdrafts or the chance to opt in or out of this "overdraft protection," so that the customer could refuse the debit or cover it with other funds.

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, attorney Sandra Cuneo by email at scuneo@cuneolaw.com or by telephone at (917) 319-3777, or attorney Nancy Fineman by email at nfineman@cpmlegal.com or by telephone at (650) 697-6000.

Jonathan W. Cuneo, Esq.
Tel: (202)789-3960

Sandra W. Cuneo, Esq.
Tel: (917) 319-3777

Nancy L. Fineman
Tel: (650) 697-6000