Monday, May 1, 2017

Supreme Court rules cities can sue banks for predatory lending

The Supreme Court handed down a landmark ruling, stating that cities can sue banks for discriminatory mortgage lending practices, but cautioned that the burden of proof could be difficult to achieve. The ruling stems from a lawsuit brought by city of Miami, which sued Bank of America, Wells Fargo, and Citigroup in 2013, stating that the banks engaged in predatory lending to minority borrowers in the city.

from Byrd Mix via byrd memphis developer

from Tumblr

No comments:

Post a Comment