Powered by

Supreme Court rules cities can sue banks for predatory lending practices

May 2, 2017 - Legal Monitor Worldwide

(JURIST) - The US Supreme Court ruled 5-3 Monday in Bank of America Corp. v. City of Miami that cities can use the Fair Housing Act (FHA) to sue banks for predatory lending practices. At issue were the questions of whether Miami qualified as the kind party that could bring claims under the FHA and whether the harm the city said it suffered (lost tax revenue) was necessarily tied closely enough to the lending practices for the city to bring the claims. Writing for the majority, Justice Stephen Br

Sign up for unrestricted access to 200+ subscription services.
Already have an account? Click here to login.

RelSci News & Alerts gets you:

  • 5 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
  • Competitive business intelligence through daily data updates
  • Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox