Citigroup loses bid to stop L.A. mortgage discrimination lawsuit

It will take years to sort it all out, but this is very good news on corporations that deny everything even when they're caught red-handed.

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"Filed in Los Angeles federal court, the lawsuit said Citi issued high-cost loans to minorities, then refused to refinance the loans later on the same terms it extended to white borrowers, resulting in defaults.

Loans in predominantly minority neighborhoods were 4.8 times more likely to end in foreclosure than loans in predominantly white neighborhoods, the lawsuit said."

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More at:

http://www.rawstory.com/rs/2014/06/09/citi-loses-bid-to-stop-l-a-mortgage-discrimination-lawsuit/