Valerie Hletko Quoted in Law360 Article, "High Court To Review Miami Big Bank Fair Lending Suits"Valerie L. Hletko
Valerie Hletko was quoted in Evan Weinberger's Law360 article, "High Court To Review Miami Big Bank Fair Lending Suits," on Tuesday, June 28, 2016.
The U.S. Supreme Court on Tuesday agreed to hear a petition from Bank of America and Wells Fargo seeking to overturn a lower court decision allowing the city of Miami to bring fair housing claims against them.
The two banks are seeking to overturn a September 2015 decision in the Eleventh Circuit that revived Miami's lawsuits against Bank of America Corp. and Wells Fargo & Co. over alleged discriminatory lending practices that harmed black and Latino borrowers under the Fair Housing Act.
The case has drawn widespread attention, with groups ranging from the U.S. Chamber of Commerce to banking industry associations filing amicus briefs supporting the banks. That's because a victory for Bank of America and Wells Fargo could go a long way toward dissuading other municipalities from bringing similar claims in the future, and help defeat lawsuits from cities and counties that have already been filed.
"The bottom would fall out of all of them with a ruling by the Supreme Court that a plaintiff under the Fair Housing Act must be within the zone of interests Congress intended to protect," said Valerie Hletko, a partner with Buckley Sandler LLP.