Leading Financial Institution
We represented a leading financial institution in an action brought by the City of Los Angeles alleging that fair lending violations at the time of origination resulted in a disproportionately high number of foreclosures in primarily African American and Latino neighborhoods, purportedly reducing the City’s property-tax revenues and increasing its municipal-services costs. We leveraged our knowledge of the relevant legal landscape and deep understanding of statistical regression analysis in the fair lending area to persuade the City that its claims of discrimination were unsupported. Rather than facing the prospect of litigating against our anticipated motion for summary judgment, the City voluntarily dismissed its complaint with prejudice. Along the way, our team scored several important victories, including obtaining dismissal of the original complaint on grounds that certain claims were barred by FIRREA. The amended complaint was also dismissed. Our team also obtained dismissal with prejudice of a suit brought by the Los Angeles Unified School District premised on virtually identical theories.