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JPMorgan sued by Miami over mortgage discrimination

Jun. 16, 2014 1:17 PM ETJPMorgan Chase & Co. (JPM) StockJPMBy: Stephen Alpher, SA News Editor9 Comments
  • At issue are alleged predatory lending practices in minority neighborhoods since at least 2004 which Miami blames for causing waves of foreclosures in the housing bust. After issuing high-cost loans to minorities, JPMorgan (JPM -0.3%), says the city, refused to refinance on the same eased terms extended to others.
  • The lawsuit follows a similar one launched a few weeks ago by Los Angeles.  Wells Fargo, Citi, and BofA face similar charges.

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