Countrywide Says Dukes Destroys Class In Loan Bias Suit

Law360, New York (June 7, 2012, 5:16 PM EDT) -- Minority borrowers claiming they overpaid for home loans can’t sue as a class because there’s no evidence they were victims of a common discriminatory scheme, as required in Wal-Mart Stores Inc. v. Dukes, Countrywide Financial Corp. told the Sixth Circuit on Wednesday.

The lender, now a unit of Bank of America Corp., faces multidistrict litigation in which hundreds of thousands of Hispanic and African-American customers were allegedly overcharged. Lawyers for the company said a lower court was correct to reject certification, having found it hard to...
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