If you or someone you know enrolled in a HSBC Payment Protection product between the dates of July 2, 2004 and February 23, 2012 you might be a part of this class action lawsuit settlement. The lawsuit is entitled Esslinger v. HSBC Bank Nevada, N.A., and is case number 2:10-cv-03213-BM. The United States District Court for the Eastern District of Pennsylvania will have jurisdiction over the case. The lawsuit revolves around claims that HSBC enrolled consumers in Payment Protection products without their consent and that the products were misrepresented. There will be a total of three different settlement categories: “Category 1: If you (a) were enrolled in an HSBC Payment Protection product without your consent and (b) did not previously receive a full refund of HSBC Payment Protection fees, (c) did not receive HSBC Payment Protection benefits and (d) enrolled for twelve (12) months or less, you may be eligible to claim a settlement award of $30.00; or Category 2: If you submitted a claim for HSBC Payment Protection benefits that you believe was improperly denied and you did not previously receive a full refund of HSBC Payment Protection fees, you may be eligible to claim a settlement award of $60.00; or Category 3: If you were dissatisfied with an HSBC Payment Protection product and you did not previously receive a full refund of HSBC Payment Protection fees, you may be eligible for a settlement award of $15.00.”
In order to receive any type of settlement in the Esslinger v HSBC lawsuit you MUST file a claim form no later than 10/20/12. For each account billed a separate claim form will have to be filed. The claim form, the Settlement Agreement, the Full Notice and the Preliminary Approval Order can all be found the settlement web portal. A total settlement amount of $23,500,000.00 has been agreed upon but is pending a fairness hearing. The hearing will be held on October 1, 2012 at 9:00 a.m at Courtroom 13613 in the U.S. District Court for the Eastern District of Pennsylvania. The street address is as follows: 601 Market Street, Philadelphia, PA 19106. Please note you do not have to attend the hearing to receive a settlement in the case. The Nagel Rice, LLP; Golomb & Honik, P.C.; and Taus Cebulash & Landau LLP have been approved for the class counsel and will receive an amount no greater than $7,797,000.00 for their work in the case.