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Tag Archives: minority borrowers

Appeals Court Dismisses LA Case v. BofA, Wells

Suits claiming Bank of America and Wells Fargo engaged in discriminatory lending practices in the city of Los Angeles were dismissed this week by an appellate panel in New York. Filed by the city of LA, the suits alleged the two banks targeted minority buyers with more expensive and riskier loans than white borrowers. The appellate panel ultimately sided with the original district court rulings, which stated the city failed to establish a strong enough link between the bank’s policies and any racial disparity in local homeownership.

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