Judge narrows Cook County's lawsuit against Bank of America

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Judge narrows Cook County’s lawsuit against Bank of America

Judge narrows Cook County’s lawsuit against Bank of America

Reuters-

Cook County, Illinois can proceed with a lawsuit accusing Bank of America of targeting minorities for predatory, high-interest mortgages that allegedly led to thousands of foreclosures, a federal judge in Chicago has ruled.

But U.S. District Judge Elaine Bucklo said in her decision on Friday, that several harms Cook County asserted, such as lost revenue and increased policing costs in blighted neighborhoods, “do not flow directly” from the discrimination the county alleges, and she limited the damages it can recover.

[REUTERS]

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