According to the Baltimore Sun, US District Court Judge J. Frederick Motz dismissed the City’s pending lawsuit against Wells Fargo, citing the City’s role in destroying inner-city neighborhoods:
“The alleged connection is even more implausible when considered against the background of other factors leading to the deterioration of the inner city,” U.S. District Court Judge J. Frederick Motz explained in an six-page memorandum opinion accompanying the dismissal order. He pointed specifically to Baltimore’s “extensive unemployment, lack of educational opportunity and choice, irresponsible parenting, disrespect for the law, widespread drug use, and violence.”
The city owns approximately 10,000 vacant structures in Baltimore, and out of those — 40% are houses. We think the city needs to clean up its own back yard before blaming Wells Fargo or others. While we are firmly against any type of discriminatory or predatory lending practices, this lawsuit was based on the premise that Wells Fargo destroyed neighborhoods — and the City needs to rethink that strategy.