In late 2013, the City of Miami filed various lawsuits against Bank of America, Wells Fargo, and Citigroup alleging that these banks violated the federal Fair Housing Act by engaging in a lengthy pattern and practice of steering minority borrowers into more expensive and higher risk mortgages than loans that were issued to similarly situated white borrowers. Commissioner Suarez sponsored the Resolution authorizing these lawsuits. These predatory lending practices destroyed families who will be adversely affected for years to come following the devastating loss of their homes to foreclosure.
On November 8, 2016, the Supreme Court of the United States heard argument as to whether Miami can proceed with its claims and vindicate its rights on behalf of the community under the Fair Housing Act. "We intend to pursue these claims aggressively," said Commissioner Suarez, "and hold these banks responsible for their discriminatory lending practices. We aim to make our city whole." A decision from the Supreme Court is expected by the end of the term in June of 2017. For additional information on the lawsuits, please visit www.unfairbanklending.com. To see pictures of properties believed to have been affected by these unfair lending practices, please see the links below.
|24 NW 58 ST||1153 NW 47 ST||3770 OAK AV|
|61 NW 57 ST||1339 NW 34 ST||3771 NW 11 ST|
|145 NW 42 ST||1631 SW 16 ST||3790 OAK AV|
|160 NE 50 TER||1832 SW 17 TER||5444 NW 5 AV|
|170 NW 46 ST||2237 SW 11 ST||5534 SW 2 ST|
|260 NE 58 TER||2394 SW 26 ST||5635 SW 5 TER|
|321 NW 48 ST||2437 NW 31 ST||5790 NW 3 ST|
|328 SW 15 AV||2895 SW 36 AV||6835 NW 5 AV|
|340 NW 23 PL||3180 NW 3 ST||8230 NE 3 AV|
|420 NW 46 ST||3228 NW 17 ST|