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HSBC may have failed to pay its loan officers overtime, failed to provide meals and break time, failed to keep proper records and retaliated when notified of their failures.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Failure To Pay Overtime
- Failure To Provide Meal And Rest Periods
- Failure To Prompty Pay Upon Termination Of Employment
- Improper Maintence Of Employment Records
- Improper Retalitory Actions
Product or Service
- Loan Officers or Mortgage Loan Officers
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending class action against HSBC alleging that HSBC failed to provide "Retail Mortgage Lending Consultants" and "Senior Retail Mortgage Lending Consultant" (more commonly known as loan officers) rest and meal periods. The class action complaint further charges that HSBC failed to provide Retail Mortgage Lending Consultants and Senior Retail Mortgage Lending Consultant with monies owed in a timely fashion upon the employees termination. Further, the class action complaint asserts that Retail Mortgage Lending Consultants and Senior Retail Mortgage Lending Consultant were required to work in excess of 40 hours a week and were not paid overtime for all time worked in excess of 40 hours. The class action complaint also asserts that HSBC failed to keep proper records of employee work records and that once employees complained about these labor policies, HSBC took retaliatory measures.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| HSBC Holdings plc (HCS) | HSBC Holdings plc, together with its subsidiaries, provides various banking and financial services worldwide. |
| HSBC Finance Corporation | HSBC Finance Corporation, formerly Household International, Inc. It is a financial services firm with a focus on consumer lending in the US. |