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COOK COUNTY RECORD

Thursday, March 28, 2024

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  • Judge: 'Harm to minority borrowers direct;' Cook County can continue predatory lending suit vs HSBC

    By Dan Churney |
    A Chicago federal judge has eliminated several claims from a suit brought by Cook County against banking giant HSBC, for alleged predatory lending, but the judge said the county still made enough plausible allegations, including that HSBC discriminated against minorities, for the suit to survive.

  • Judges disagree if county can sue, but appeal won't slow Cook's predatory lending suit vs HSBC

    By Dan Churney |
    A Chicago federal judge will not slow down Cook County’s predatory lawsuit against HSBC, denying a request from HSBC to place the county’s legal action on hold to allow a federal appeals court to iron out differing opinions among local federal judges as to whether the county actually has standing under federal law to sue HSBC and other banks over allegations the banks discriminated against borrowers based on race and worsened local housing markets.

  • Cook County cleared to continue predatory lending, discrimination lawsuit vs HSBC

    By Jonathan Bilyk |
    Cook County has standing to bring a legal action against banks for alleged racially discriminatory and predatory lending practices, meaning one of the country’s largest lenders will need to continue to mount its defense against the lawsuit in court, a federal judge has ruled. In an opinion issued Sept. 30 in federal court in Chicago, U.S. District Judge John Z. Lee brushed aside arguments advanced by British bank HSBC Holdings Plc in its bid to derail Cook County’s lawsuit brought under the fed