July 31, 2019 / 11:02 PM / 23 days ago

11th Circuit tosses Florida city's mortgage bias lawsuit against Wells Fargo

A federal appeals court has rejected a bid by Miami Gardens to revive a lawsuit accusing Wells Fargo of mortgage discrimination, saying the Florida city did not offer evidence that it was injured by the bank’s lending practices.

Miami Gardens had alleged that loans Wells Fargo issued to minorities often ended in foreclosure, hurting the city’s property tax revenue, but a unanimous three-judge panel of the 11th U.S. Circuit Court of Appeals said on Tuesday that the city did not establish that the foreclosures were caused by Wells Fargo’s practices.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/331PNJc

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