September 28, 2021
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.
June 18, 2018
A California federal judge ruled Friday that Oakland can proceed with trimmed allegations that Wells Fargo steered minorities to pricey subprime loans that increased foreclosure rates, saying the city's bid to sue over reduced property taxes passes muster under the U.S. Supreme Court's Bank of America v. Miami decision.
September 22, 2015
The city of Oakland sued Wells Fargo Bank NA in California federal court Monday, saying the bank offered more predatory loans to black and Hispanic borrowers than to whites, leading to defaults and foreclosures that cost the city much-needed tax revenues.