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Municipalities File Fair Lending Lawsuits
26 June 2014
A number of municipalities recently have filed fair lending lawsuits under the Fair Housing Act, alleging that discrimination against African-Americans and Hispanics in mortgage lending harmed the municipality.
The municipalities claim that discriminatory lending tactics increased the incidence of foreclosures in certain neighborhoods, leading to reduced property tax revenues and a greater need to provide costly municipal services to vacant homes.
These lawsuits, which seek to expand liability under the Fair Housing Act in unprecedented ways, warrant monitoring for their potential implications for fair lending compliance programs.
Mary Beth Hogan
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