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Home » Store » Fair Lending » Cities Ramp Up Lawsuits Against Banks for Alleged Loan Bias That Resulted in Foreclosures, Lost Tax Revenue

Cities Ramp Up Lawsuits Against Banks for Alleged Loan Bias That Resulted in Foreclosures, Lost Tax Revenue

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There has been a resurgence of city lawsuits lately against major banks seeking to recover lost property tax revenues, which city officials say were needed to pay for expensive foreclosure-related city services. The latest in these lawsuits was filed by the City of Los Angeles against JPMorgan Chase alleging discriminatory mortgage lending led to a wave of foreclosures that continues to diminish revenue for basic city services. The new litigation against Chase comes...
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