City of Baltimore v. Alleged "Ghetto Loans" Peddler - Round 3 In Reverse Redlining Suit Begins

In Baltimore, Maryland, The Baltimore Sun reports:

• After two previous dismissals, the city made a third attempt [last] week to sue Wells Fargo Bank, accusing the company of causing increased foreclosures in Baltimore through racist, predatory lending.

• The latest complaint, filed Thursday in U.S. District Court, contains 14 new paragraphs that purport to address concerns that led Judge J. Frederick Motz to twice before dismiss the case — namely a lack of evidence that the mortgage lender was responsible for housing vacancies and millions of dollars in associated damages.

For more, see City sues Wells Fargo a third time (Two other lawsuits were dismissed as inadequate).

Go here for earlier alleged ghetto loans peddler posts.