City Failed To Show Proximate Causation In Discriminatory Lending Suit

Mealey's (September 30, 2021, 1:06 PM EDT) -- SAN FRANCISCO — An en banc Ninth Circuit U.S. Court of Appeals on Sept. 28 affirmed in part and reversed in part a federal district court’s partial denial of a motion to dismiss filed by Wells Fargo and Co. and Wells Fargo Bank NA (collectively, Wells Fargo) in a discriminatory lending lawsuit, ruling that the city of Oakland, Calif. failed to sufficiently establish proximate causation in arguing that Wells Fargo’s alleged discriminatory lending practices caused property values and tax revenues to drop while causing municipal expenditures to rise....