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Supreme Court says cities can sue big banks over housing bubble damages

The Supreme Court ruled on May 1 that federal anti-discrimination law allows cities to sue a bank over lending practices they allege led to urban blight but said they face a high standard in proving those practices directly harmed the local governments.

The ruling was a mixed one for Miami, which was at the forefront of a move by cities nationwide to sue big lending institutions under the federal Fair Housing Act…Please click here to read Robert Barnes’ story in the Washington Post.

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