Full 9th Circ. Hands Wells Fargo Win In Oakland Loan Suit

By Craig Clough (September 28, 2021, 10:35 PM EDT) -- The full Ninth Circuit granted a win Monday to Wells Fargo in Oakland's suit alleging predatory loan practices aimed at minorities hurt tax revenue, reversing a lower court's decision to preserve claims and holding the California city's purported injuries are too far downstream from violations of the Fair Housing Act.

The panel said in a published opinion authored by Circuit Judge M. Margaret McKeown that the city's lawsuit requires too much of a chain reaction theory of injuries too far removed from Wells Fargo's conduct, adding that the FHA does not support a cause for injuries more than one step removed...

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