On May 6, 2017 we reported the Supreme Court’s 5 – 3 decision that cities have standing to sue banks for damages under the Fair Housing Act. We wondered, ” Will we see more of these actions? Most likely.” Well we have another case, and much sooner than expected.
The City of Philadelphia filed suit against Wells Fargo on May 15th. We expect the list of cities filing cases to grow steadily. If any city wins and recovers damages the volume of cases will explode.