Today's Date: Add To Favorites
Supreme Court says cities can sue banks under anti-bias law
Court Watch | 2017/05/03 16:15
The Supreme Court ruled Monday that cities may sue banks under the federal anti-discrimination in housing law, but said those lawsuits must tie claims about predatory lending practices among minority customers directly to declines in property taxes.

The justices' 5-3 ruling partly validated a novel approach by Miami and other cities to try to hold banks accountable under the federal Fair Housing Act for the wave of foreclosures during the housing crisis a decade ago.

But the court still threw out an appellate ruling in Miami's favor and ordered a lower court to re-examine the city's lawsuit against Wells Fargo and Bank of America to be sure that there is a direct connection between the lending practices and the city's losses.

Miami claimed that Wells Fargo and Bank of America, as well as Citigroup, pursued a decade-long pattern of targeting African-American and Hispanic borrowers for costlier and riskier loans than those offered to white customers. The loans to minority homeowners went into default more quickly as well, the city said.

Wells Fargo and Bank of America appealed the ruling by the 11th U.S. Circuit Court of Appeals to the Supreme Court, arguing that cities can't use the Fair Housing Act to sue over reductions in tax revenues. The banks said the connection between a loan and the tax consequences is too tenuous. Citigroup did not appeal, though its lawsuit also would be affected by what the appeals court does in response to Monday's ruling.




[PREV] [1] ..[215][216][217][218][219][220][221][222][223].. [1867] [NEXT]



All
Legal Business
Headline Legal News
Court News
Court Watch
Legal Interview
Topics in Legal News
Attorney News
Press Release
Opinions
Legal Marketing
Politics
Court: Ex-West Virginia judge inelig..
Wisconsin Supreme Court primary will..
Kushner firm seeks court change to k..
Judge to ask EU court about post-Bre..
Court: Idaho nuclear waste documents..
Supreme Court blocks some redrawn No..
Court allows Pennsylvania to redraw ..
Greek court postpones decision in Tu..
UN court lays down Costa Rica, Nicar..
Judge admonishes victims' dad who ch..
Nassar to face another sentence, vic..
Find Lawyers, Law Firms & Legal Serv..
 Law Firm Web Design Information
Law Promo has worked with attorneys, lawyers and law firms all over the world in designing beautiful law firm websites that look great on all devices, from desktop computers to mobile phones. Law Promo can construct your law firm a brand new responsive law firm website, or help you redesign your existing site to secure your place in the mobile world. Law firm website design by Law Promo


   Lawyer & Law Firm Links
Houston Car Accident Attorneys
Wrongful Death Attorneys Houston
Houston Wrongful Death
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Law Firm Website Designs
Law Office Website Solutions
www.webpromo.com
Amherst, Ohio Divorce Lawyer
Sylkatis Law - Child Custody
loraindivorceattorney.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Fort Lauderdale DUI Lawyer
Miami Drug Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Lawyer
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
 
 
Disclaimer: The content contained on the web site has been prepared by Romeo Media as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Legal Business News for You to Reach America's Legal Professionals. Get the latest legal news and information.