- Posted June 19, 2014
- Tweet This | Share on Facebook
Miami says JP Morgan had discriminatory mortgages
MIAMI (AP) - The city of Miami claims in a new lawsuit that JP Morgan Chase engaged in discriminatory lending practices for years that worsened the foreclosure crisis in minority neighborhoods.
The lawsuit filed last week in Miami federal court claims the bank has engaged in prohibited lending practices since at least 2004. The city says loans were disproportionately made in black and Hispanic neighborhoods with burdensome terms, leading to a far greater rate of foreclosures.
Miami is seeking unspecified damages and an order prohibiting JP Morgan from continuing to make racially discriminatory loans. Bank spokesman Jason Lobo says the lawsuit has no merit and that JP Morgan has a strong record of providing housing to low- and moderate-income families in South Florida.
The city of Los Angeles recently filed a similar lawsuit.
Published: Thu, Jun 19, 2014
headlines Oakland County
- Meet the Judges
- Owner of twice-sunken Lake Michigan barge pleads guilty to felony
- Justice Dept. reaches civil settlement with victims abused by Lawrence Nassar
- Oakland County, Oakland Livingston Human Services Agency launch Oakland County Senior Chore Pilot Program
- U.S. Immigration Court judge to be keynote speaker at law school’s Law Day virtual celebration
headlines National
- New Legalese: You may have heard a deepfake, but what about ‘Twiqbal’?
- From Intake to Outcome: An in-house lawyer’s guide to matter management solutions
- 2 BigLaw firms in merger talks that could produce 1,600-lawyer firm with top 50 revenue
- Send in the paralegals
- Lawyer reprimanded after mistakenly emailing opposing counsel with plan to avoid judge’s call
- ‘I don’t play well’ judge who threatened to track down, jail misbehaving litigant gets tossed from case