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Miami Gardens sues big banks for predatory mortgage loans

Bank of America, JP Morgan, Wells Fargo and Citigroup accused of violating the Fair Housing Act

Miami Gardens is suing four of America’s biggest banks, alleging they engaged in a pattern and practice of issuing predatory mortgage loans to minority residents that resulted in foreclosures in violation of the federal Fair Housing Act. The city filed four separate lawsuits June 13 accusing JP Morgan, Bank of America, Citigroup and Wells Fargo unlawfully imposed different terms or conditions to minority students on a continuous basis since at least 2004.