A federal judge in Philadelphia has preliminarily approved a $23.5 million settlement in a class action brought against HSBC Bank over the company’s payment protection plan for its credit card users.
The settlement, if granted final approval this October, would be the fourth such settlement across the country against credit card issuers that provided customers a way to defer payments if they were involuntarily unemployed, according to Richard Golomb of Golomb & Honik, one of the three lead co-counsel in Esslinger v. HSBC Bank Nevada N.A.
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