The city of Los Angeles has filed two lawsuits accusing Wells Fargo and Citigroup, respectively, "of a 'continuous pattern and practice' of mortgage discrimination that led to a wave of foreclosures, reduced property tax revenue and increased costs for city services …. the city alleged that both banks engaged in predatory lending practices and redlining that saddled minorities with loans they couldn't afford and resulted in a disproportionately high number of foreclosures in their neighborhoods compared with white neighborhoods." [LAT]
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