LA Looks To Revive BofA, Wells Fargo Lending Bias Suits

Law360, Los Angeles (May 17, 2017, 11:24 PM EDT) -- Los Angeles urged the Ninth Circuit on Wednesday to revive separate suits accusing Bank of America Corp. and Wells Fargo & Co. of steering minority borrowers to more expensive and riskier home loans, saying both were wrongly tossed as time-barred and with a premature focus on the merits.

The litigation stems back to 2013, when the city filed separate but similar lawsuits against the two financial giants, alleging discriminatory mortgage lending against minorities that led to a wave of foreclosures that diminished the city's property tax...
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