"Supreme Court says cities can sue banks under anti-bias law", 1 May 2017

[A Supreme Court] ruling partly validated a novel approach by Miami and other cities to try to hold banks accountable...for the wave of foreclosures during the housing crisis a decade ago...Miami claimed that Wells Fargo and Bank of America, as well as Citigroup, pursued a decade-long pattern of targeting African-American and Hispanic borrowers for costlier and riskier loans than those offered to white customers...Justice Stephen Breyer wrote in his majority opinion a city can make claim for financial harm under the anti-discrimination housing law. But he said the second issue, tying the loans to the drop in tax revenues, is more difficult....[T]here must be "some direct relation between the injury asserted and the injurious conduct alleged.The appeals court should decide that issue...Wells Fargo...said... "We believe that under the stringent standards articulated by the Supreme Court, it will be very difficult...to show the required connection...and unsubstantiated allegations about our lending practices, which do not reflect how we operate in the communities we serve."...