- Call Us Nationwide: (503) 226-2966 Tap Here to Call Us
HSBC Sued Over “Reverse Redlining”
(October 18) The British bank HSBC has been sued by three counties in the Atlanta area for the bank’s conduct in the housing collapse.
Filed under the Fair Housing Act, the suit accuses HSBC of systematically steering minority borrowers into subprime mortgages, a practice deemed “reverse redlining”. This caused a chain of defaults, falling property values, and eroded the counties’ tax base by hundreds of millions of dollars. Wells Fargo settled two similar suits in Baltimore and Shelby County, Tennessee out of court.
(Atlanta Journal-Constitution at www.ajc.com)
Get in TouchFill out the contact form or call us at (503) 226-2966 to schedule your consultation.
- 1 Call Us Nationwide
- 2 Fill Out Our Contact Form
- 3 Please Do Not Include Confidential Information