Lawsuit Loan Chicago

why did Obama sue CitiBank to make them give loan to unqualified mortgage applicants resulting in the meltdown?

Question: Case Name Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011 State/Territory Illinois Case Summary Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages. U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995). The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement. Plaintiff’s Lawyers Obama, Barack H. (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Alexis, Hilary I. (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Childers, Michael Allen (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Clayton, Fay (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Cummings, Jeffrey Irvine (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Love, Sara Norris (Virginia) FH-IL-0011-9000 Miner, Judson Hirsch (Illinois) FH-IL-0011-7500 | FH-IL-0011-9000 Wickert, John Henry (Illinois) FH-IL-0011-9000




Answer: Good find. Then he became attorney for ACORN. Democrats cheered when Enron and Worldcom executives were prosecuted for lying about their financial records. Why hasn't Barney Frank, Christopher Dodd, and the heads of Fannie Mae and Freddie Mac been prosecuted for lying about their financial records ?? And the problems with Freddie and Fannie dwarf the size of the problems at Enron and other corporations. Double standard? Barney Frank should be in handcuffs, and Barrack was one of the attorneys pushing for these ridiculous no-doc loans for african americans in chicago. Expect some Obama supporters to complain about your question, and don't be surprised if Yahoo censors have it removed. That's what they do to some of my postings. The truth here is often unwelcome.

Why did Obama sue CitiBank to make them give loan to unqualified mortgage applicants resulting in the meltdown?

Question: Case Name Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011 State/Territory Illinois Case Summary Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages. U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995). The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement. Plaintiff’s Lawyers Obama, Barack H. (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Alexis, Hilary I. (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Childers, Michael Allen (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Clayton, Fay (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Cummings, Jeffrey Irvine (Illinois) FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000 Love, Sara Norris (Virginia) FH-IL-0011-9000 Miner, Judson Hirsch (Illinois) FH-IL-0011-7500 | FH-IL-0011-9000 Wickert, John Henry (Illinois) FH-IL-0011-9000




Answer: this type of legal action against these financial institutions started the snowball