HSBC to face Cook County discriminatory lending lawsuit

October 01, 2015
The Britain-based bank's plea to dismiss the lawsuit filed by Cook County, IL in 2014 was rejected by the U.S. District Judge John Lee in Chicago. The news was reported by Reuters.
     The lawsuit accuses HSBC of using discriminatory lending practices toward minority borrowers. The company had sought dismissal of the case on the ground that it was filed very late by Cook County. Also, the bank questioned the county's legal position for claiming compensation under the U.S. Fair Housing Act. However, Lee rejected HSBC's appeal.
     Notably, while passing the judgment, Lee wrote, "The county has alleged a widespread scheme of discriminatory lending which involved all the various defendants. This is sufficient to survive a motion to dismiss."