LA Renews JPMorgan, Citigroup, BofA Redlining Suits
Law360, San Diego (February 27, 2015, 10:39 PM EST) -- The City of Los Angeles moved its discriminatory lending fight against JPMorgan Chase & Co., Bank of America Corp. and CitiGroup Inc. to California state court on Friday, lodging new complaints against the banks weeks after a federal judge found he lacked jurisdiction over the allegations.
Los Angeles City Attorney Michael N. Feuer’s suits are his latest salvo against the banks for alleged lending practices that discriminated against nonwhite borrowers by targeting them for predatory subprime loans. The banks allegedly began withholding loans from minorities in 2007, regardless of creditworthiness.
Feuer filed nearly identical allegations December in federal court, claiming the...
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