Justices Wrestle With Standing On City Mortgage Suits
Law360, New York (November 8, 2016, 6:39 PM EST) -- An admission by attorneys representing Wells Fargo & Co. and Bank of America Corp. that cities have the right to sue banks over discriminatory lending allowed the U.S. Supreme Court to explore the limits on such standing at oral arguments Tuesday.
The high court's eight justices heard oral arguments in the banks' bid to overturn an Eleventh Circuit decision allowing the city of Miami to sue the banks under the Fair Housing Act with claims that their alleged discriminatory and predatory lending practices led to a major shortfall in tax revenues and increased costs in maintaining foreclosed properties.
While the two...
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