Supreme Court Rules Miami Can Sue for Predatory Lending
ByWASHINGTON — The Supreme Court ruled on Monday that Miami can sue two banks for predatory lending under the Fair Housing Act of 1968.
The case arose from the 2008 financial crisis. Miami sued Bank of America and Wells Fargo, saying that their discriminatory mortgage lending practices had led to a disproportionate number of defaults by minority home buyers and, in turn, to financial harm to the city.
Even as the majority of justices ruled that Miami was entitled to sue under the housing law, the court declined to decide whether the city had asserted a direct enough connection between the banks’ actions and the harm it claimed. The court sent the case back to the federal appeals court in Atlanta for further exploration of that question…
Supreme Court Rules Miami Can Sue for Predatory Lending
