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Real Estate & Property Law

: The Home Equity Theft Reporter

Federal Judge Dismisses Cleveland Public Nuisance Suit Against Big Banks Over Subprime Mess That Left Neighborhoods In Ruins

By r morris

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In Cleveland, Ohio, The Plain Dealer reports:U.S. District Judge Sara Lioi has dismissed Cleveland's lawsuit against large investment banks that Mayor Frank Jackson believes enabled the subprime lending and foreclosure crisis here. In a 36-page decision (download PDF file), Lioi ruled that the city's public nuisance complaint was "pre-empted" by a section of Ohio Revised Code that does not allow

Full post as published by The Home Equity Theft Reporter on May 20, 2009 (boomark / email).

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