An Alabama homeowner is suing a U.S. subsidiary of London bank HSBC in federal court in Atlanta, claiming it has engaged in a long-running illegal kickback scheme over homeowners insurance.
Alabama resident Robin Blackburn also is seeking class-action status. The proposed class includes anyone who has had a loan or line of credit with HSBC Finance Corp. or its affiliates that is secured by a home mortgage and who has been charged for a “force-placed” hazard or flood insurance policy. The suit also names as a defendant insurance company Assurant Inc. and American Security Insurance Co.
