Supreme Court rules cities can sue banks for predatory lending

 

This is a housingwire.com article.

 

Hands partial victory to Miami in suits against Bank of America, Wells Fargo.

The Supreme Court handed down a landmark ruling, stating cities can sue banks for discriminatory mortgage lending practices, but cautioned that the burden of proof could be difficult to achieve.

In a 5-3 ruling released Monday, the Supreme Court ruled cities hold the right to sue banks over the banks’ lending practices, if an alleged violation of the Fair Housing Act is claimed.

PiggyBankBlog Bailiff: “All rise! The Honorable Judge John Wright has left the Courtroom of Public Opinion!”