Homeowner's Predatory Lending Suit Against Citi Revived

Law360, New York (December 21, 2011, 8:04 PM EST) -- A California appeals court on Wednesday revived a Mexican immigrant's suit accusing Citibank NA of predatory lending, ruling the homeowner had presented enough evidence to pursue claims that refinancing loans requiring roughly $12,000 in monthly payments were “unconscionable.”

The Golden State appeals court ruled in a published opinion that a judge had improperly granted summary judgment to Citibank, in part because there was uncontradicted evidence showing that Jonas Z. Lona made only $40,000 a year when he took out the loans — which required a $12,381...
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