June 24, 2025 #1 Local News, Information and Event Source for the Century City/Westwood areas.

Los Angeles Sues Chase Bank

Chase
Los Angeles city attorney Mike Feuer has filed a lawsuit against Chase Bank. (Thinkstock)

Los Angeles City Attorney Mike Feuer sued JPMorgan Chase & Co. in federal court on May 30, accusing the bank of discriminatory and predatory lending that has led to a surge in foreclosures among minorities and reduced tax revenue for the city.

Chase practiced a form of discrimination known as “reverse redlining” when it extended “mortgage credit on predatory terms to minority borrowers in minority neighborhoods in Los Angeles on the basis of the race or ethnicity of its residents,” Feuer’s lawsuit said.

The bank has refused to “extend mortgage credit to minority borrowers in Los Angeles on equal terms as offered to non-minority borrowers,” according to the lawsuit.

Chase spokeswoman Suzanne Ryan said the bank will “vigorously defend this lawsuit.”

“We are disappointed the L.A. city attorney is pursuing an adversarial approach to address city finances impacted by the recent economic downturn,” she said. “While the downturn was beyond our control, we will continue to partner with Los Angeles in the recovery.”

Feuer’s office is seeking damages from Chase, pointing to decreased tax revenue due to the lowered values of foreclosed properties, as well as increased costs from having to deliver city services to deal with blight at vacant, foreclosed properties.

Feuer in December also sued Wells Fargo, Bank of America, and Citigroup. He said a federal court judge on Wednesday shot down an attempt by Wells Fargo to dismiss a similar lawsuit filed by the City Attorney’s Office.

“L.A. continues to suffer from the foreclosure crisis, from blight in our neighborhoods to diminished revenue for basic city services,” Feuer said. “We’re fighting to hold those we allege are responsible to account and to help bring back every community in our city.”

Feuer said as an Assemblyman, he authored the Homeowners’ Bill of Rights and other legislation aimed at helping homeowners struggling with foreclosure.

Related Posts

(Video) Food Fight: Chefs Join Forces to Raise Money to Protect Immigrant Families in Venice

June 24, 2025

June 24, 2025

Estrano, Little Dynamite, Sunday Gravy, Kabob Senpai Answer the Call From Turk’s Pizza Party. Dave Turkel Put This Food Resistance...

Squatter-Plagued Beverly Grove Buildings Could Be Razed After Hazard Cleanup

June 24, 2025

June 24, 2025

Demolition of Three Abandoned Apartments May Begin in Two Weeks Three abandoned apartment buildings in Beverly Grove may soon be...

From Westwood to DTLA, Angelenos March Against Military Escalation in Iran

June 23, 2025

June 23, 2025

Protestors Rally at the Westwood Federal Building This Weekend Following President Donald Trump’s authorization of airstrikes on three Iranian nuclear-related...

LAPD Sergeant Killed Assisting Crash Victims on 405 Freeway in Brentwood

June 23, 2025

June 23, 2025

Tragic Early-Morning Collision Claims Two Lives, Including Veteran Sergeant Two people, including an LAPD sergeant, were killed early Monday in...

Recent Homebuyer Down Payments Slip for First Time in Nearly Two Years

June 23, 2025

June 23, 2025

April’s Median Down Payment Fell as Buyers Lean Toward Lower-Cost Homes The median down payment made by U.S. homebuyers dropped...

Del Rey Affordable Housing Project to Rise on Former Charter School Site

June 23, 2025

June 23, 2025

Community Corp., Local Faith Group Team Up to Build 122 New Apartments Plans are moving forward for a new residential...

Paris Hilton Buys Mark Wahlberg’s Beverly Park Mansion for $63.1M

June 22, 2025

June 22, 2025

The Heiress and Media Mogul Joins a Star-Studded Neighborhood Paris Hilton and husband Carter Reum have purchased a high-profile estate...

A.O.C. Brentwood to Close After 16 Years on San Vicente Boulevard

June 22, 2025

June 22, 2025

Chef Goin and Styne Cite Unsustainably High Rent in Decision to Close  A.O.C. Brentwood, the acclaimed Westside outpost from James...

Weekend Lane Closures on PCH in Malibu Could Snarl Summer Beach Traffic

June 21, 2025

June 21, 2025

Army Corps Work Triggers Weekend Closure on Pacific Coast Highway Motorists traveling along Pacific Coast Highway this weekend should prepare...

LA City Councilwomen Yaroslavsky and Jurado Call for Legal Action Against Federal Immigration Raids

June 20, 2025

June 20, 2025

City Motion Targets Alleged Unconstitutional Tactics, End Qualified Immunity for Fed Officers  City Councilmembers Katy Yaroslavsky and Ysabel Jurado introduced...

All Aboard to LAX: Metro Opens Game-Changing Transit Hub Ahead of Global Events

June 20, 2025

June 20, 2025

 New LAX/Metro Transit Center Comes Closer to Connecting Metro Directly to LAX The Los Angeles County Metropolitan Transportation Authority (Metro)...

Princess Diana’s Largest Wardrobe Auction Set for Beverly Hills

June 20, 2025

June 20, 2025

Over 200 Royal Garments to Hit the Auction Block for Charity More than 200 garments and royal artifacts, including the...

Queer Beauty Through the Ages: Getty Hosts Lecture on Greek Art’s Influence on LGBTQ Aesthetics

June 20, 2025

June 20, 2025

Art Historian to Trace Homoerotic Imagery From Ancient Greece to Modern Queer Identity As part of its ongoing Pride Month...

Food Fight on the Venice Boardwalk: Chefs Stand Up for Immigrants with Food

June 20, 2025

June 20, 2025

Turk’s Pizza Party Rallies Top Local Eateries for an Immigrant Rights Fundraiser In a bold display of culinary activism, Turk’s...

Navy Vietnam Vet Finally Gets His UCLA Commencement Moment

June 20, 2025

June 20, 2025

John Fong, 80, Missed His Graduation in 1968 While in Vietnam  Nearly six decades after completing his studies, U.S. Navy...