AFJ Applauds SCOTUS Ruling in Case Targeting Predatory Lending

WASHINGTON, D.C., May 1, 2017 – Following today’s 5-3 Supreme Court ruling in the consolidated cases Bank of America v. Miami and Wells Fargo v. Miami, in which the Court ruled that the City of Miami could sue the banks for harm caused by predatory mortgage lending practices aimed at the city’s communities of color, Alliance for Justice President Nan Aron issued the following statement:

“We applaud today’s ruling by the Supreme Court, which recognizes that the disgraceful practices of predatory lenders hurt not just individuals but entire communities. The City of Miami has every right to fight these practices, and today the Supreme Court has sent a strong message to predatory lenders everywhere: if you are involved in the kind of unfair and discriminatory mortgage lending that wrecks lives and destroys neighborhoods, municipal authorities can and will come after you in the future.”