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