A federal appeals court delivered a split decision in the high-profile case against Marilyn Mosby, the former Baltimore State’s Attorney who rose to national...

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People in the News

Friday, July 18, 2025

People in the News

Friday, July 18, 2025

JP Morgan facing discrimantory lending lawsuit for pushing minorities to risky loans

jpmorganThe city of Los Angeles filed a lawsuit against JPMorgan on Friday, May 30, that accuses the bank of discriminatory lending practices. The suit alleges that JPMorgan pushed minority borrowers toward risky home loan products, eventually resulting in “a foreclosure wave that hammered property values and city coffers,” reported the Los Angeles Times.

The city also levied similar suits against Wells Fargo, Citigroup and Bank of America last year, reported Bloomberg. Wells Fargo attempted to have its suit thrown out, but a Los Angeles judge ruled against the bank last week, meaning the case will go to court.

Read more: JPMorgan Accused of Discriminatory Home Lending by City of Los Angeles