Supreme Court says cities can sue banks under anti-bias law
National News
The Supreme Court ruled Monday that cities may sue banks under the federal anti-discrimination in housing law, but said those lawsuits must tie claims about predatory lending practices among minority customers directly to declines in property taxes.
The justices' 5-3 ruling partly validated a novel approach by Miami and other cities to try to hold banks accountable under the federal Fair Housing Act for the wave of foreclosures during the housing crisis a decade ago.
But the court still threw out an appellate ruling in Miami's favor and ordered a lower court to re-examine the city's lawsuit against Wells Fargo and Bank of America to be sure that there is a direct connection between the lending practices and the city's losses.
Miami claimed that Wells Fargo and Bank of America, as well as Citigroup, pursued a decade-long pattern of targeting African-American and Hispanic borrowers for costlier and riskier loans than those offered to white customers. The loans to minority homeowners went into default more quickly as well, the city said.
Wells Fargo and Bank of America appealed the ruling by the 11th U.S. Circuit Court of Appeals to the Supreme Court, arguing that cities can't use the Fair Housing Act to sue over reductions in tax revenues. The banks said the connection between a loan and the tax consequences is too tenuous. Citigroup did not appeal, though its lawsuit also would be affected by what the appeals court does in response to Monday's ruling.
Related listings
-
Judge W. Brent Powell Appointed to Missouri Supreme Court
National News 05/01/2017Jackson County Circuit Judge W. Brent Powell was appointed Tuesday to the Missouri Supreme Court, marking the first high-profile judicial selection by new Republican Gov. Eric Greitens. Powell will replace former Judge Richard Teitelman, who died in ...
-
4th Arkansas inmate executed in 8 days lurches on gurney
National News 04/23/2017Arkansas executed its fourth inmate in eight days Thursday night, wrapping up an accelerated schedule with a lethal injection that left the prisoner lurching and convulsing 20 times before he died. Kenneth Williams, 38, was pronounced dead at 11:05 p...
-
High court sides with Goodyear in sanctions dispute
National News 04/22/2017A unanimous Supreme Court is siding with Goodyear Rubber & Tire Co. in a dispute over $2.7 million the company and its lawyers were ordered to pay in a personal injury case. The justices on Tuesday sent the case back to a lower court to decide wh...
Any contracts or any transactions can go awry at any time
We know your business means a lot to you and want to understand all the aspects of your business so that we can help you in the best ways possible. We don’t discriminate depending on the size of your company. Our mission statement is to represent all business owners and entrepreneurs by navigating them through the rough waters of business litigation and guiding them to success.
We are attorneys who want to make sure we understand your business objectives and goals before we start providing you with legal counsel individualized to your business. We know what it means to be dedicated to your business. After all, we are a business as well. And just like you, we want to provide the best service we can to our clients.
Any contracts or any transactions can go awry at any time. Sometimes, making important business decisions without legal help from business attorneys could cost you your business.We don’t want you or your business to be misconstrued by anyone. Our attorneys make sure that we communicate with you often to make sure we are giving you the legal guidance you need at all times. We make sure we are responsive in a timely-manner with every single one of our clients to help them identify risks and prevent legal battles before they arise.