CITY ATTORNEY’S OFFICE FILES LAW ENFORCEMENT ACTION AGAINST U.S. BANK FOR FAILURE TO MAINTAIN FORECLOSED PROPERTIES AND FOR ILLEGAL EVICTIONS
National Bank Faces Hundreds of Millions of Dollars in Potential Liability and Injunction to Clean Up Foreclosed Properties and Stop Illegal Evictions
LOS ANGELES – City Attorney Carmen A. Trutanich today announced prosecutors in his office have filed a civil law enforcement action against the fifth largest commercial bank in the United States, US Bank, for allowing hundreds of foreclosed properties to fall into serious disrepair and for facilitating the illegal eviction of hundreds of low-income tenants. The complaint against US Bank, which was filed in Los Angeles Superior Court late yesterday afternoon, is the second law enforcement action taken against a major financial institution, following a 2011 suit against Deutsche Bank, for allowing real estate holdings to deteriorate into slum conditions.
Copy of the full press release below…