Bank of America v. The City of Miami

I realize that classes are already over, but very quickly I want to share a piece of news I came across that relates rather deeply to the course. Yesterday, the Supreme Court ruled in favor of the City of Miami’s lawsuit against Wells Fargo and Bank of America. The suit alleges that the banks’  predatory lending practices violated the Fair Housing Act and targeted African American/Latino communities through subprime mortgages. You can read about the case and the Supreme Court’s decision in the following sources:

Cities Can Sue Big Banks Over Effects of Discriminatory Practices (NPR)

Bank of America Corp. v. The City of Miami (Supreme Court’s published decision)

Supreme Court Rules Miami Can Sue Over Predatory Lending (NYT)

There are certainly other media sources covering the case as well, but I felt these might be a good starting point to obtain a brief overview.  At any rate, from my cursory research the decision strikes me as a small victory for proponents of fair housing and lending practices (good news is hard to come by these days).

Many thanks to Alpha and Beth for facilitating a meaningful and compelling class this semester.

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