Starting over four years ago, the City of Cleveland has attempted to deal with its housing foreclosure crisis, in part, by bringing suit against numerous financial institutions whose subprime lending activities the City alleges have contributed to the crisis. The procedural history of the City’s lawsuits is complicated, but, in Chase Bank USA, N.A. v. … Continue Reading
This case has all the trappings of a civil procedure thriller — appellate jurisdiction, Article III standing, diversity jurisdiction, amount in controversy, and Buford abstention are all discussed at length. But the end result is that entities trying to hold banks responsible for problems associated with foreclosed homes experienced yet another set-back in Cleveland Housing … Continue Reading
