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New Jersey Takes Predatory Lending Seriously

If you mailed your payment to HSBC on the 7th, as an example – and it was not credited until the 18th of the month, while you received a late fee, overlimit fee, and a pay-by-phone fee, 12 phone calls from India and a slap in the face, you may have recourse. This is from New Jersey relative to Ameriquest:

“We take the threat of predatory lending very seriously, and we are pleased that through this cooperative effort we were able to recover funds for consumers who were victimized in this instance,” said Department of Banking and Insurance Commissioner Steven M. Goldman. “We remain vigilant in our efforts to prevent this conduct, and we urge any consumer who believes they may have been subjected to predatory practices to contact us with their concerns.”

So we assume if the example in our introduction actually happened to you New Jersey and Mr. Goldman would take it seriously. The sad part is that it is happening to HSBC customers all over the country. See our Live Reports and Horror Stories for more.

Posted By Timothy Blake

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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

Update Note

HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off