May 8, 2017

Jost on Justice, “Banks May Pay for Ravaging Minority Neighborhoods”

United States Supreme Court

In his latest “Jost on Justice” blog post, legal scholar Kenneth Jost offers his take on the Supreme Court’s recent decision in Bank of America v. Miami, noting that the city of Miami can now try to use the Fair Housing Act “to try to recover damages from BofA and Wells Fargo for financial losses…

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May 1, 2017

Supreme Court Clears The Way For LA and Other Cities to Sue Big Banks Over Foreclosure Crisis

United States Supreme Court Building

On Monday May 1, 2017, the U.S. Supreme Court solidified the reach of federal housing law by ruling that cities can sue major banks for discriminatory lending practices that caused enormous and pervasive harm to low-income neighborhoods during the 2008 recession. As noted by the Los Angeles Times, the decision “gives city leaders a potentially powerful…

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November 8, 2016

Supreme Court Receptive to Miami’s Discriminatory Loan Complaints Against Major Banks

United States Supreme Court

The U.S. Supreme Court today heard oral argument relating to the City of Miami, Florida’s lawsuits against Bank of America and Wells Fargo for deprivations it says were the results of the banks’ discriminatory and predatory loans targeted at minorities. The city’s case describes unfavorable minority-targeted bank loans that led to widespread foreclosures and a consequent…

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November 7, 2016

Supreme Court Confronting Racial Impact of Predatory Loans After Financial Crisis

Bank building

As the Christian Science Monitor reports, the 1968 Fair Housing Act led to significant progress in finding and ending racial discrimination. “Now, a Supreme Court case touches on whether it is legal for cities to expand the FHA by suing banks.”

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November 7, 2016

Miami Seeks Supreme Court OK in Lawsuit to Recoup Losses from Housing Collapse

Blighted home

As the city of Miami, Florida sees it, a tidal wave of discriminatory and predatory lending from some of the nation’s biggest banks from 2008 and onward caused financial ruination that nearly broke the city. Practices the city alleges discriminated against Hispanic and African-American residents by directing them into risky, high-interest loans resulted in rampant…

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November 5, 2016

Miami Looks to Supreme Court for Ruling on Fair Housing Act Mortgage Discrimination Lawsuits

United States Supreme Court Building

Nearly 50 years after the Fair Housing Act was passed to prevent mortgage discrimination, the city of Miami, Florida is asking the U.S. Supreme Court to rule on whether major banks should pay damages for financial harm stemming from predatory loans made to minority borrowers. The Court will hear arguments on November 8th in Miami’s…

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