Tax,
Real Estate/Development,
Banking,
9th U.S. Circuit Court of Appeals
Sep. 29, 2021
Oakland can’t sue for lost taxes from foreclosures
The 9th U.S. Circuit Court of Appeals en banc panel found that the connections between missed tax revenue and the bank’s lending practices are “too attenuated and traveled too far” for Oakland to pursue the lawsuit.
Oakland cannot sue Wells Fargo for lost property taxes allegedly caused by foreclosures the city said were linked to discriminatory lending practices, a full panel of the 9th U.S. Circuit Court of Appeals ruled Tuesday.
Reversing a three-judge panel ruling, the en banc 9th Circuit panel said that the connections between missed tax revenue and the bank's lending practices are "too attenuated and traveled too far" for Oakland to pursue the la...
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