HSBC Holdings (NYSE:HBC): Current price $55.71
New York Attorney General Eric Schneiderman claims that HSBC violated New York foreclosure law and placed homeowners at a greater risk of losing their homes, and said Tuesday that he is suing the bank. A state investigation revealed that HSBC has left homeowners in foreclosure by not meeting requirements for giving them a chance to negotiate loan modifications, said Schneiderman’s office. This lawsuit is brought as state attorneys general across the United States have targeted banks over foreclosure practices, in 2012 coming to a $25-billion settlement with five mortgage servicers, among which included Bank of America Corp. and Wells Fargo & Co. However, HSBC was not part of that settlement.
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