U.S. Bank to pay L.A. $13.5-million over foreclosed homes that fell into disrepair

Wasn’t it Al Capone they took down on his IRS violations? Pick ’em a part bit by bit… Yup!

Justice League

The Los Angeles city attorney has reached a $13.5-million settlement with U.S. Bank to resolve allegations that the nation’s fifth-largest bank operated as a slumlord and allowed hundreds of foreclosed properties to deteriorate, fostering crime and blight in L.A. neighborhoods slammed by the housing crisis.

The settlement, announced Thursday, requires the Minneapolis-based firm to maintain its foreclosed properties in “accordance with all applicable laws and standards for two years.” A full-time bank employee will work with city agencies to resolve code violations of foreclosed properties across Los Angeles, the city attorney’s office said.

 “Banks must be accountable for the condition of the properties they hold,” City AttyMike Feuer said in a statement. “This significant settlement underscores my commitment that all foreclosed and vacant properties be kept up to code, so they don’t become sources of blight or magnets for crime.”

U.S. Bank spokesman Dana E. Ripley said the bank would be working…

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2 thoughts on “U.S. Bank to pay L.A. $13.5-million over foreclosed homes that fell into disrepair

  1. Our courts, collection agencies, and in cahots with bank. The Judge in Georgetown County, SC held three hearings with Wells lawyers, i was never notified, had not my day in court, nor oppertunity to present my evidence and sue Wells for damages to me by agregious preditory lending. Have letters from Wells Attorneys to judge, that they have his checks cut for his commission, but he cannot have them until he has used tax payer, law enforcement to force me from my home. I was informed, by voice, by a policeman, that if I exhibited any emotion, he had authority to handcuf me, take me to jail, That becaause I am autistic, 69, have nowhere to go, had paid for my home 30 years ago, he meant no crying…no screaming….and mark his words, there were no mental health facilities, so it would be a cell…and if I had no money for lawyer he was not going to police all my art, furniture, clothes on street. Any Attorney want to go after Wells with perfect evidence of their preditory lending…..$503,000.00 on $7 ooo a year income.

    • It appears the judges foolishly think they are protecting the pension funds and their personal investments by protecting the banks and letting them foreclose…allegedly to stay liquid. Oh ha…nothing there to protect. Integrity is getting to some of them and slowly they are wise-ing up.

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