Predatory Lending

Supreme Court rules cities can sue banks for predatory lending 

The Supreme Court handed down a landmark ruling, stating that cities can sue banks for discriminatory mortgage lending practices, but cautioned that the burden of proof could be difficult to achieve. The ruling stems from a lawsuit brought by the city of Miami, which sued Bank of America, Wells Fargo and Citigroup in 2013, stating that the banks engaged in predatory lending to minority borrowers in the city.