Litigation
Dec. 25, 2014
Top banks targeted again for predatory lending among Los Angeles minority groups
Los Angeles City Attorney Mike Feuer is seeking penalties from JPMorgan Chase, Bank of America, CitiGroup and Wells Fargo after hitting them with a similar set of suits last spring.
Daily Journal Staff Writer
Several major banks could be forced to pay hundreds of thousands of dollars for directing minority groups in Los Angeles to risky loans they could not afford, which resulted in a wave of foreclosures, if lawsuits filed by the Los Angeles city attorney's office are successful.
The city has alleged that JPMorgan Chase & Co., Bank of America Corp., CitiGroup Inc. and Wells Fargo & Co. ...
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