Los Angeles files suit against US Bancorp
07/18/2012 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Los Angeles – Los Angeles has filed a lawsuit against the parent company of the nation’s fifth largest commercial bank. As reported by Reuters, the lawsuit was filed against US Bancorp Monday, with the financial holdings company being accused of failing to maintain over 1,500 foreclosed homes, which have purportedly become uninhabitable, and have led to the illegal evictions of many tenants.
Labeling the company as a “slumlord,” Los Angeles is quoted as alleging in the complaint that the bank has for approximately four years, “disregarded virtually every one of its legal duties and responsibilities as owner, resulting in the creation and maintenance of an alarming number of vacant nuisance properties and substandard occupied housing units.”
The lawsuit is seeking to have a daily fine of $2,500 imposed upon US Bancorp for each alleged violation.
Justice News Flash delivers the latest in Los Angeles business litigation news.
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