GA counties sue HSBC claiming loss of tax base - WALB.com, South Georgia News, Weather, Sports

GA counties sue HSBC claiming loss of tax base

Ga. counties sue HSBC claiming loss of tax base

By KATE BRUMBACK
Associated Press

ATLANTA (AP) - Three Atlanta-area counties have filed a lawsuit claiming that British bank HSBC engaged in predatory lending that ended up costing them hundreds of millions of dollars.

Fulton, DeKalb and Cobb counties say the bank aggressively signed minorities to housing loans that were likely to fail. The counties say that caused tremendous damage, including extra expenses and lost tax revenue.

The lawsuit says the banks violated the Fair Housing Act. That law provides protections against housing or renting policies or practices that discriminate on the basis of race, color, national origin, religion, sex, family status or handicap.

A lawyer for HSBC said he couldn't comment on the lawsuit, which was filed in October. A federal judge has given the bank until Jan. 25 to file a response.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • American Red Cross preparedness tips ahead of flash flooding

    American Red Cross preparedness tips ahead of flash flooding

    Sunday, May 27 2018 12:12 AM EDT2018-05-27 04:12:40 GMT
    The American Red Cross said they are prepare before the storms hit. (Source: WALB)The American Red Cross said they are prepare before the storms hit. (Source: WALB)
    The American Red Cross said they are prepare before the storms hit. (Source: WALB)The American Red Cross said they are prepare before the storms hit. (Source: WALB)

    Here in Southwest Georgia the American Red Cross has been working the last couple of days to prepare for the storm.  The American Red Cross has been getting their relief supplies ready across the 19 county region.  

    More >>

    Here in Southwest Georgia the American Red Cross has been working the last couple of days to prepare for the storm.  The American Red Cross has been getting their relief supplies ready across the 19 county region.  

    More >>
  • Albany fraternity chapter holds blood drive for Memorial Day

    Albany fraternity chapter holds blood drive for Memorial Day

    Sunday, May 27 2018 12:04 AM EDT2018-05-27 04:04:00 GMT
    Psi Delta Tau held their first blood drive in Albany Saturday. (Source: WALB)Psi Delta Tau held their first blood drive in Albany Saturday. (Source: WALB)
    Psi Delta Tau held their first blood drive in Albany Saturday. (Source: WALB)Psi Delta Tau held their first blood drive in Albany Saturday. (Source: WALB)

    With Memorial Day around the corner, one Southwest Georgia military fraternity decided to host a blood drive in honor of fallen soldiers and to give back to the community.  Psi Delta Tau Military Fraternity Incorporated held the event at a neighborhood Wal-Mart to help those in need.  

    More >>

    With Memorial Day around the corner, one Southwest Georgia military fraternity decided to host a blood drive in honor of fallen soldiers and to give back to the community.  Psi Delta Tau Military Fraternity Incorporated held the event at a neighborhood Wal-Mart to help those in need.  

    More >>
  • A huge feeding bringing hope to the community

    A huge feeding bringing hope to the community

    Saturday, May 26 2018 11:52 PM EDT2018-05-27 03:52:00 GMT
    St. James Missionary Baptist Church held their 3rd Annual Community BBQ Event on Jackson St. in Albany. (Source: WALB)St. James Missionary Baptist Church held their 3rd Annual Community BBQ Event on Jackson St. in Albany. (Source: WALB)

    The weather didn't stop one Albany church from having a nice southern barbeque.       St. James Missionary Baptist Church held their third annual 'Unity in the Community BBQ event' Saturday.  They gave away hundreds of food and clothing items. 

    More >>

    The weather didn't stop one Albany church from having a nice southern barbeque.       St. James Missionary Baptist Church held their third annual 'Unity in the Community BBQ event' Saturday.  They gave away hundreds of food and clothing items. 

    More >>
Powered by Frankly