"The city attorney sued Deutsche Bank on Wednesday, claiming the giant international lender illegally evicted tenants from foreclosed properties and left dozens of homes and apartments to rot, many in low-income neighborhoods.
The suit, filed in Los Angeles County Superior Court, accuses the bank of violating federal, state and city laws and seeks potentially hundreds of millions of dollars in reimbursements to the city and to evicted tenants.
The city attorney's office contends the bank failed to act properly as trustee to more than 160 homes and other residences with owners who couldn't meet their loan obligations during and after the 2008 international financial meltdown.
"It's time to recognize that the fraud committed on Wall Street turns into blight on Main Street," City Attorney Carmen A. Trutanich said at a news conference."....a must read.......read more here
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