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One lawsuit that is still active against H&R Block and HSBC (formerly predatory lender Household International) was filed in 1998 by a New York plaintiff, Lynne Carnegie, who claimed she paid $110 for a nine-day advance on a $500 refund.
“Predatory lending is clearly defined by this case” said watchdog organization Household – HSBC Watch. “Block and Household took her money and never blinked. Household, now part of HSBC, also foreclosed on Madie Wilson, 89 years old, and never blinked. They also back your Best Buy and Levitz credit cards, and credit cards for over 60 other merchants” said the group.
Update: After many years this suit was settled on November 8, 2006. It is featured on our rackteering page. Final court approval of this case can be seen here.
This article, 9 day tax advance was costly, is just one of our articles from our Bank Horror Stories, HSBC Secrets Part 3
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
