§ 1964

Citation: § 1964
Parent Document: City of Miami v. Wells Fargo & Co., 923 F.3d 1260 (2019)
Jurisdiction: United States (federal)
Effective Date: 2019-05-03
Original Source: https://www.courtlistener.com/opinion/4616452/city-of-miami-v-wells-fargo-co/ ↗

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  A few other district courts have illustrated the point. In three lawsuits against banks alleging
the same kinds of practices that Miami has alleged, Cook County, Illinois claimed damages
based on “out-of-pocket costs it . . . incurred in processing the discriminatory foreclosures, such
as additional funding for the Cook County Sheriff to serve foreclosure notices and for the Circuit
Court of Cook County to process the deluge of foreclosures.” County of Cook v. Bank of Am.
Corp., No. 14 C 2280, 2018 WL 1561725 at *7 (N.D. Ill. Mar. 30, 2018); see also County of
Cook, Ill. v. HSBC N. Am. Holdings, 314 F. Supp. 3d 950, 956 (N.D. Ill. 2018); County of
Cook, Ill. v. Wells Fargo & Co., 314 F. Supp. 3d 975, 982 (N.D. Ill. 2018). Those out-of-pocket
costs were found to have plausibly been proximately caused by the banks because these
expenditures are automatic results of foreclosures. See HSBC, 314 F. Supp. 3d at 962; Wells
Fargo, 314 F. Supp. 3d at 984; Bank of Am., 2018 WL 1561725 at *7. These were the only
claimed damages that survived a motion dismiss in the Northern District of Illinois, as all three
courts there found that Cook County had failed to adequately plead proximate cause for the kinds
of tax-revenue and municipal-expenditure injuries that Miami pleads here. See HSBC, 913 F.
Supp. 3d at 962–64; Wells Fargo, 314 F. Supp. 3d at 988; Bank of Am., 2018 WL 1561725 at
*5. Miami pled no out-of-pocket costs closely tied to foreclosures along these lines.
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               Case: 14-14544    Date Filed: 05/03/2019    Page: 56 of 76

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