Consumer complaint received 2019-10-09
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: OR
Product: Money transfer, virtual currency, or money service
Sub-product: Debt settlement
Issue: Confusing or missing disclosures

Complaint:
The purpose for recently contacting you is that I have been trying to get my adequate mutually agreed upon settlement from HSBC Bank. I was apart of the Class action against them in the XXXX case CIVIL ACTION NO : XXXX-XXXX however I did not receive a opt out notice from them so I could hire my own attorney. In addition to this I did not cash the settlement check I emailed them immediately after I received the settlement check which I did not cash stating that I did not agree to the amount of the settlement check. I later wrote the company that handled the disbursement of the settlement funds I wrote and sent them a letter certified return receipt mail receipt number XXXX before the final court agreements of settlement disbursement stating that I did not agree to the settlement amount and wanted more. I received no response, I then further filed complaints with several Senator XXXX XXXX office and Congressman XXXX XXXX office and with the Federal Trade commission complaint number XXXX, the Consumer Financial Protection Bureau Case No XXXX, the Commodity Futures Trading Commission complaint XXXX, and Securities and Exchange Commission complaint XXXX. Court documents indicate that the Attorneys on the case did not do do diligence so this confirmed my feelings that I did not get proper representation in court document 132 is a transcript of how the settlement is unfair and in the transcript the Attorneys for the class action state that there was not due diligence or very adequate discovery. Matters of res adjudicata do not apply because I did not receive a opt notice so I could hire my own Attorney, and I continued to write and solicit a proper settlement amount, both to HSBC Bank and Government Agencies. Since I dissented against the settlement amount I have never cashed the checked. By the latest at 36th and 37th 38th to 40th court documents the court had determined agreed that both parties should negotiate a settlement. Yet class action members like me our issues or concerns about the settlement amounts were not considered hence why I want to take the case to state court and sue HSBC Bank in State court. I have the complaint case both in the body of the email and in a attachment. 


My dealings with HSBC bank were that I took out a line of credit to trade in silver, and I took out a policy with HSBC Bank that I thought was to protect me from identity theft, and to protect me if I had any losses and was unable to pay back the line of credit. Which was the case and I thought the matter was settled but HSBC Bank continued to solicit funds for the insurance policy via the mail, and HSBC bank put a negative mark against my credit report even until recently as far as 2016, in fact I was even contacted last summer from a company saying that I owed HSBC money. Though I was told on the phone that the matter was settled and fine when I had first contacted HSBC Bank about the matter. At least I thought that was the case, and that was the type of policy I was taking out but in the class action it was indicated that is not the case and also do to HSBC negatively effecting my credit report. I still do not know what actually the insurance policy was that they actually sold me. It is my understanding that it is illegal for a insurance company to trick someone into taking out a insurance policy that they didn't want, you can't sell someone something telling them it is one thing and in fact it being another type of policy. That is illegal, the state deceptive trade practices acts were enacted by the various states following the passage of the Federal Trade Commission Act ( FTC Act ), which prohibits deceptive acts and practices in the sale of products to consumers. In this regard, the state laws in this area are modeled on the FTC Act, and, therefore, are highly similar in content. 


Please cconsider taking on this case on my behalf as your client against HSBC Bank. The case is pretty straight forward, and you just have to follow the general map set out in the Federal Case against HSBC Bank. HSBC Bank needs to be brought to Justice for what they have done and the amount they want to pay is pittances. HSBC bank has deep pockets and they want to get away with what they have done. During the time the law suit against HSBC Bank was before the Court HSBC Bank did not act in good faith the Plaintiffs and the Putative Class which I was apart of are and were also entitled to injunctive and declaratory relief including, without limitation, orders declaring HSBCs practices as alleged herein to be unlawful, unfair, unconscionable and/or deceptive, and enjoining HSBC Bank from undertaking any further unlawful, unfair, unconscionable, and/or deceptive acts or omissions. Which HSBC Bank continued to further break the law and were doing so during the time this case was before the court. HSBC Bank has and was during the time the case was before the court manipulating the libor rate, HSBC Bank has manipulated the price of Silver and Gold which directly effected my silver trading business. Which as a side note when I first was asked what I wanted to take out the line of credit for which I stated was to trade in silver I later found out that HSBC shortly after approving the line of credit started manipulating the Silver and Gold price course that would be very hard to prove but of course that isnt the crux of the issue here. The issue here is they sold me the wrong insurance policy. What I have asked for in regards to the settlement is shares in HSBC for them to transfer ownership of stock shares over to me. They can do a share buy back which it has been discussed in the press that HSBC bank was going to do that. HSBC bank can do a share buy back, and then transfer shares over to me, which would be a win win situation for HSBC Bank they strengthen the value of their stock shares by doing a stock share buy back and they can simply transfer some stock shares ownership over to me. So it would not be to difficult for them and if the amount is adequate then the matter is settled. So please help and consider taking this case it could be very lucrative for you, and it is so necessary because HSBC bank needs to be brought to justice and HSBC Bank needs to be stopped form doing this to other people. Also with the US. Senate Bill recently passing about not being able to sue banks which I would think is unconstitutional there is need to get this case done. I have also done some work on writing the case up my self but not being a lawyer and only being a XXXX XXXX XXXX I don't have all the complete nuances of how to write up the complaint. I could send you what I have written up and you can fill in the parts about the fact there was no due diligence in the case along with there being no adequate discovery, how matters of res adjudicata are not issues because the lack of the opt out notice, and HSBC continued to break the law while the case was before the court. Like I said the case is pretty straight forward and HSBC Bank settled rather quickly but HSBC Bank have been jerking me around about the settlement amount in the complaint with the Consumer Financial Protection Bureau HSBC Bank Acknowledges they owed me money and they state I did not agree to the amount and asked them for more, but that since I didn't cash the check they gave the money to a non profit organization. So since HSBC Bank has been jerking me around about the settlement amount I have found it necessary to take them into state court and finally settle the matter. So Please help me and consider taking my case this would be very lucrative for you and would bring about justice against HSBC Bank which has committed fraud and it would stop them from doing this to other people. I have put the original case complaint in a attachment in this email and also in the body of the email below the body of this email. Thank you for your time and consideration in regards to this matter and please help me and bring Justice against HSBC Bank.

Company response to consumer: Closed with explanation