Sacramento's Wells Fargo Suit Wilts After Oakland Pulled Plug

By Katryna Perera (January 28, 2022, 9:22 PM EST) -- The city of Sacramento's lawsuit against Wells Fargo alleging discriminatory lending practices will end per a stipulated dismissal filed in California federal court on Thursday, after the city of Oakland accepted defeat in a similar case in the Ninth Circuit.

Sacramento, Oakland and other major cities across the U.S., including Los Angeles, Miami, Philadelphia and Baltimore, initiated suits against Wells Fargo following the 2008 financial crisis claiming that the bank engaged in discriminatory lending practices.

The suits started with City of Miami v. Bank of America Corp. et al., in which the South Florida city sought a court win that could...

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