fbpx
News
May 3, 2016

Do Cities Have Standing to Sue Banks Under the Fair Housing Act?

Do cities have standing to bring lawsuits against banks over Fair Housing Act allegations related to the banks’ mortgage practices during the financial crisis? The Eleventh Circuit ruled that Miami had standing in its lawsuit against Wells Fargo, Bank of America, and Citigroup. 

The U.S. Chamber has filed a brief in a petition challenging that decision before the Supreme Court, reports The Atlantic

“By extending Fair Housing Act remedies to municipalities that have allegedly suffered remote and conjectural economic harms—such as a diminution of their tax base—the Eleventh Circuit has exposed lending institutions to virtually boundless liability,” stated the brief.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings