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.
A Chicago federal judge has refused to halt arbitration proceedings brought by investment firm UBS Financial Services against a former clerk, whom UBS has alleged helped steal company information with which to lure away customers. Alexander Freund worked as a part-time clerk for UBS in Chicago from Nov. 7, 2011, to Feb. 15, 2012, when he left to work for Wells Fargo.
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
An Arlington Heights man has filed a class action lawsuit against Wells Fargo Bank, saying that the bank has repeatedly harassed him with unwanted automated phone calls and text messages. Plaintiff Ethan Jones filed suit Sept. 22 in federal court in Chicago, alleging he has received numerous unwanted calls and text messages on his cell phone from Wells Fargo’s automated phone system.
A former clerk with UBS Financial Services in Chicago went to Chicago federal court last week, arguing the Financial Industry Regulatory Authority has no jurisdiction over him in a multi-million dollar arbitration action, brought against him by UBS for allegedly breaching his employment contract. On Sept. 10, Alexander Freund lodged a two-count complaint against New Jersey-headquartered UBS Financial Services, seeking declaratory judgment and an injunction.
A federal judge has refused to rule Wells Fargo did not engage in lending practices blamed for allegedly exacerbating a plague of home mortgage foreclosures among minority homebuyers. But the judge still has tossed a lawsuit brought against the lender by Cook County over the bank’s alleged predatory lending practices.
A lawsuit alleging a security firm actually paved the way for a burglary will proceed following a judge’s refusal to dismiss the complaint.Greensboro, N.C.-based Lorillard Tobacco is suing Tyco Integrated Security, which is headquartered in the U.S. in Boca Raton, Fla., in federal court in Chicago, accusing the security company of failing to adequately protect a cigarette warehouse in East Peoria.
A federal judge has cleared Cook County to continue to press its case against Bank of America over the county’s allegations the lender discriminated against racial and ethnic minority borrowers through predatory lending practices in which it doled out home mortgage loans subject to higher interest rates and other more expensive terms for borrowers of color than for white borrowers, devastating the
