- 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.
JPMorgan sued by Miami over mortgage discrimination
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