Complete 9th Circ. Hands Wells Fargo wins in Oakland loan suit

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By Craig Clough (September 28, 2021, 10:35 p.m. EDT) – The Ninth Circuit awarded Wells Fargo a victory Monday in the Oakland lawsuit, alleging predatory lending practices targeting minorities were hurting tax revenues, overturning the ruling of a lower court to preserve claims and hold alleged injuries to the city of California are too far downstream of Fair Housing Act violations.

The panel said in a published opinion written by Circuit Judge Margaret McKeown that the city trial requires too much of an injury chain reaction theory too far removed from Wells Fargo’s conduct, adding that the FHA does not not support a cause of injury more than one step removed …

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