City of Miami v. JPMC – 15-00293

National Debt

national debt

Regulators

Mortgage Related

Government Sponsored

Announcement Date: February 18, 2016

city-of-miami-v-jp-morgan-chase

The city of Miami has sued JPMorgan Chase & Co, “accusing the bank of predatory mortgage lending in minority neighborhoods that allegedly caused a wave of foreclosures during the last decade’s housing crisis (see¬†Reuters Article by Dena Aubin)”

The lawsuit, filed in federal court in Florida, alleges that the country’s largest bank engaged in a systematic¬†practice of discriminatory mortgage lending since at least 2004, violating the U.S. Fair Housing Act.

The complaint alleges that after issuing high-cost loans to minorities in the years before the housing crisis, JPMorgan Chase subsequently refused to refinance the loans on the same terms as it extended to whites, leading to defaults and foreclosures.

city-of-miami-v-jpmc-doc-57-third-amended-complaint-april-29-2016

city-of-miami-v-jpmc-doc-64-def-response-in-opposition-of-motion-to-dismiss june-10-2016

city-of-mimai-v-jpmc-doc-71-defendants-repl-memo-june-20-2016

city-of-miami-v-jpmc-14-22205-docket-as-of-june-27-2016