March 4, 2015 / 12:03 PM / 5 years ago

HSBC Bank USA to pay $30 mln to settle overdraft fee lawsuit

(Reuters) - HSBC Bank USA has agreed to pay $30 million to resolve claims that it manipulated thousands of customers’ checking account transactions to boost fees for overdrawn accounts, the latest of several banks to settle such allegations.

In a filing on Monday in a New York state court, lawyers for HSBC’s customers asked for preliminary approval of the agreement, which would compensate class members nationwide for about 50 percent of the losses caused by the bank’s conduct.

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