HSBC Bank has been ordered to pay a $35 million penalty for not delivering what they promised to consumer regarding their credit monitoring product, CreditKeeper.
Customers eligible for restitution include those who were unfairly billed for CreditKeeper, a credit-monitoring product marketed and sold by the bank, its affiliate HSBC Bank Nevada, N.A., Las Vegas, Nevada, and their vendors.
The restitution will benefit customers who enrolled in and paid for the credit-monitoring product between January 2004 and May 2012, but did not receive the full benefit of the product.
The restitution will include the full amount paid for this product, plus any associated over-limit fees, finance charges, and interest.
Eligible consumers should be contacted by HSBC bank.
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