BofA Defeats Cook County’s Appeal Over Predatory Home Loans

Cook County, Ill., failed to convince a federal appeals court Wednesday that its suit, which alleged multiple Northern Illinois banks made credit too easily available to some borrowers and hurt the county, was improperly dismissed.

The county sued Bank of America Corp. and other banks in 2014 under the Fair Housing Act, alleging that they targeted minority borrowers for “unchecked or improper” home loans which hurt the county when the borrowers couldn’t repay. The county said it had to deal with vacant properties and lost taxes and fees because of this predatory lending practice.

The US Court of Appeals for ...