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Supreme Court Revisits 2008's Housing Collapse With Banking Test Cases
NPR: As voters go to the polls on Tuesday, the U.S. Supreme Court will be revisiting the 2008 collapse of the housing market, and the resulting drop in property values and property tax revenue. At issue are two cases testing whether Miami can sue Wells Fargo and Bank of America under the Fair Housing Act for alleged racial discrimination in mortgage terms and foreclosures.
Demonstrators in Philadelphia in 2008 try to draw attention to the subprime mortgage crisis. Philadelphia is one of the cities backing Miami's efforts to sue Wells Fargo and Bank of America.
Specifically, the city of Miami alleges that the banks discriminated against black and Latino homeowners in terms and fees.
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