New York sues HSBC for breaking foreclosure law

New York attorney general Eric Schneiderman yesterday filed a suit against HSBC Holdings, accusing the bank of breaking state foreclosure law and putting homeowners at greater risk of losing their homes.

A state investigation found that HSBC has left homeowners languishing in foreclosure by failing to meet requirements for giving them an opportunity to negotiate loan modifications, according to Schneiderman's office.

via Business feed http://www.scmp.com/business/banking-finance/article/1253641/new-york-sues-hsbc-breaking-foreclosure-law