Philadelphia sues Wells Fargo over discriminatory lending

Dominos…

Justice League

Bad news for Wells Fargo…

Housingwire:

The city of Philadelphia announced Monday that it is suing Wells Fargo for alleged discriminatory lending practices against minority borrowers.

Philadelphia’s announcement specifically cites the recent Supreme Court decision, which stemmed from a lawsuit brought by city of Miami against Bank of AmericaCitigroup, and Wells Fargo in 2013.

In its lawsuit, Miami claimed that the banks engaged in predatory lending to minority borrowers in the city, and accused the lenders of “reverse redlining,” which led to a large number of foreclosures, lower property tax collections, and increased cost to the city to deal with the resulting property value loss and blight.

The Supreme Court ruling granted cities the right to sue banks under the Fair Housing Act, but established that the city must prove direct harm to itself caused by the lender’s actions.

Philadelphia is taking that challenge head-on.

According…

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DNC Faces Another Class Action Lawsuit After $1 Million in Bonuses Given Out

We’ve been in the wrong business, yeah? Geesh!

Justice League

PHILADELPHIA (CBS) — The Host Committee for the Democratic National Convention in Philadelphia has paid out nearly a million dollars to staff members, and local institutions, from leftover money it raised to stage the event.

But, dozens of people who worked in the field elsewhere in the country for Democrats feel shortchanged and are now part of a class action federal lawsuit.

The bonuses ranged from $500 for interns to more than $300,000 for the executive director.

“I think everyone’s reaction is the same. It’s obscene,” says Justin Swidler, a Cherry Hill-based attorney.

Swidler is pursuing a lawsuit on behalf of 40-to-50 “field organizers” all over the country, whom he says were denied overtime compensation.

“One of the arguments that the Democrats…

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Default, Foreclosure and the impact on physical and mental health function

Certainly, the Obama administration didn’t see or care about any studies – nor has Congress. It’s about time they stop using the American citizens as their petty cash machine. FREE the GSEs!

Livinglies's Weblog

By K.K. MacKinstry/LendingLies Blog

Neuroscientists have concluded that chronic stress and cortisol damage the brain.  Although there are no formal studies to date on the health ramifications of default, prolonged litigation, and post-foreclosure trauma, it would be safe to conclude that people who are exposed to chronic stress over an extended period of time are prone to mental issues like anxiety and mood disorders as well as physical illnesses.  The most common mental disorders in protracted litigation are post-traumatic stress disorder, anxiety and depression that unfortunately result in altered brain structure and chemistry.

The majority of people who sue their servicer will face a hostile judiciary and an intimidating legal system with procedural obstacles at every turn.  The homeowner will exist in an unresolved state of existence for years or decades and are thus prone to both mental and physical health consequences.

I have been fighting a servicer for 14…

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