February 25, 2016 / 11:22 PM / 3 years ago

HSBC boosts overdraft settlement to $32 million to end dispute

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

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