Court loss for Wells Fargo in L.A. discrimination lawsuit

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

A federal judge denies Wells Fargo's (WFC -0.2%) motion to have an appeals court decide whether Los Angeles has legal standing to recover damages under the U.S. Fair Housing Act.

L.A. is suing the bank and three others over predatory lending it says led to a wave of foreclosures and lost tax revenue. The same judge two months ago turned down another motion by the bank to have the case dismissed.