Obama Sued Citibank Under CRA to Force it to Make Bad Loans

by POODYLOU ☮ R P ☮ 2012 ☮ Posted 2011/12/08 16:56:45

Related Topics: Obama, Congress, Constitution, Credit, Citibank, Bank, Chicago, Party, Lawsuit, Loans, Financial

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He has the audacity to blame congress for the people being foreclosed on??????? His National Consumer Protection Guru can't protect people from him!!

Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois

Case Summary
Plaintiffs filed their class action lawsuit on July 6, 1994, alleging that Citibank had engaged in redlining practices in the Chicago metropolitan area in violation of the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691; the Fair Housing Act, 42 U.S.C. 3601-3619; the Thirteenth Amendment to the U.S. Constitution; and 42 U.S.C. 1981, 1982. Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories. Plaintiffs sought injunctive relief, actual damages, and punitive damages.

U.S. District Court Judge Ruben Castillo certified the Plaintiffs’ suit as a class action on June 30, 1995. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 322 (N.D. Ill. 1995). Also on June 30, Judge Castillo granted Plaintiffs’ motion to compel discovery of a sample of Defendant-bank’s loan application files. Buycks-Roberson v. Citibank Fed. Sav. Bank, 162 F.R.D. 338 (N.D. Ill. 1995).

The parties voluntarily dismissed the case on May 12, 1998, pursuant to a settlement agreement.
Plaintiff’s Lawyers Alexis, Hilary I. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Childers, Michael Allen (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Clayton, Fay (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Cummings, Jeffrey Irvine (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Love, Sara Norris (Virginia)
FH-IL-0011-9000
Miner, Judson Hirsch (Illinois)
FH-IL-0011-7500 | FH-IL-0011-9000
Obama, Barack H. (Illinois)
FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000
Wickert, John Henry (Illinois)
FH-IL-0011-9000

Stan Kapusta 2011/12/09 06:57:49 (edited)

It's still a bank. For every human thing done there are 1000 other things done in the name of business.

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Hula girl - Friends not Fol... 2011/12/08 20:01:50

Is this a reminder for the election as this is old old news and been on this site for three years.

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Zuggi 2011/12/08 19:20:29

Plaintiffs alleged that the Defendant-bank rejected loan applications of minority applicants while approving loan applications filed by white applicants with similar financial characteristics and credit histories.

That's not forcing them to make bad loans. That's saying "You make the same loans to black people as you do to white people".

p.s. how many of the top 10 subprime lenders were covered by CRA?

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POODYLO... to Zuggi 2011/12/08 19:40:38

GOD forbid they worry about discriminating when loaning money to people that can,t pay it back.
The point is the oaf, sued to get them to make the loans and still takes no responsiblity

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Zuggi to POODYLO... 2011/12/09 00:01:47 (edited)

In 1998. That was in the middle of the subprime crisis, right?

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POODYLO... to Zuggi 2011/12/09 02:06:42

the middle of the one that existed between 1995-2000

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Zuggi to POODYLO... 2011/12/09 02:34:15

The bubble was focused around 2002-2007.

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POODYLO... to Zuggi 2011/12/09 18:39:29

much of which was caused by getting loans with a 5 or 7 year Arm.

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Zuggi to POODYLO... 2011/12/10 01:24:37

Go look at the numbers. You'll see where the giant increases start.

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ConLibFraud 2011/12/08 18:28:52

Please keep in mind the banksters own and control the puppet politicians. There is a reason for everything they do.

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POODYLO... to ConLibF... 2011/12/08 18:45:21

this was in 1998 when his ship first docked in the free world!

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ConLibF... to POODYLO... 2011/12/08 18:49:08

Yes, but the banks needed it to look like they were forced to give bad loans.

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POODYLO... to ConLibF... 2011/12/08 19:41:49

I do not think only banks that were "forced" are guilty. Obama just needs to take responsiblity for the crap that is running down hill

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ConLibF... to POODYLO... 2011/12/08 19:44:26

+1
All of the DC thugs need to be put in those fema camps!

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POODYLO... to ConLibF... 2011/12/08 19:58:39

the bank supports the politician to get elected, in turn the politician scratches the banks back, the politician gets elected and he scratches some more, the bank leaves money laying on the politicians desk, scratch, scratch, the bank is making some bad loans and need gov't help so they leave more money scratch, scratch, bank gives away too much money and needs bailed out scratch, scratch, Bank gets large sums of taxpayer money and leaves some on the politicians desk, scratch, scratch.....

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ConLibF... to POODYLO... 2011/12/08 20:00:45

+1
Yes, but if the politician doesn't want to play the game, they are scratched out.

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DeeB 2011/12/08 17:40:50

+1
Oh now he uses the Constitution???? LOL!

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POODYLO... to DeeB 2011/12/08 17:47:24

+2
I am sure it was unintentional

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DeeB to POODYLO... 2011/12/08 17:50:33

+2
Probably so!

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gregory.ditzler 2011/12/08 17:18:25

+2
these banks should be taken to international court and charged with crimes against humanity.

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Grabitz 2011/12/08 17:07:37

+2
When the banks can charge you $30 for being over draft by 3 cents I say screw the banks sue the hell out of them .

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POODYLO... to Grabitz 2011/12/08 17:15:12

+2
he sued them to make them loan money to people who could not afford to repay the loan. That is why we are in this mess

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Grabitz to POODYLO... 2011/12/08 17:32:53

I just have a hard time believing that is the reason . I'm seeing the work all outsourced and the working class getting laid off with many and many unemployed or underemployed could not afford to pay their loans . Do you really believe people put down a huge down payment just to watch the banks take their homes ? Come on poodylou .

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POODYLO... to Grabitz 2011/12/08 17:35:05

+2
Just a couple years ago you could buy a house with nothing down. Loans were easy to come by.

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Grabitz to POODYLO... 2011/12/08 17:59:02

Still all and all I'm sure people had their dreams of owning a home and had good intentions of paying them off and keeping a good credit rating . No way you can convince me that millions of people did this on purpose at the same time . The odds of that would have to be a billion to one .

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POODYLO... to Grabitz 2011/12/08 18:04:25

I think the people thought they could wing it, I am sure the banks knew that they could not. A well as did Fannie and Freddie. Of course to the Ultra wealthy a bird in the hand is worth 2 in the bush!

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Grabitz to POODYLO... 2011/12/08 18:20:47

This is true Poodylou , I know when I first started off I was winging it as a young man and had one hell of a time in the first recession we had . If it wasn't for the family I would have sunk like many did even back then . With no jobs all being given to the commies how do you expect people to pay ? It just seems to me your all pushing the blame on the poor . You all make it look like the poor has no right what so ever to pursue the American dream . for most they have to start off from somewhere , not all are born with the silver spoon in their mouth . Some win some lose and in these crappy time we just ended up with a lot of losers and i blame this on the outsourcing . Did you know that China is a communist country and trying to dictate to us as what and where we can go and do ? All wile our treasonous American corporation is feeding them making them the strongest country in the world . Is this what you all really want ?

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POODYLO... to Grabitz 2011/12/08 19:52:09

During this time1998 through 2006 John and I was continuously offered loans we knew we could not afford. When we bought our house the kept trying to get us to buy a house that cost double. Our plan was to buy something we could afford if we ever had to live of just one of our incomes. China is dictating to our government as much as our government is dictating to us. I have never said a poor person should not pursue the American Dream, but, be realistic and buy within your means. I do not want to lose every thing I have worked for because others do not understand the term personal responsibility!!

The fact of the matter is that China OWNS us! That you can blame on American Politicians who have increased the debt ceiling and the Treasury for giving money to foreign banks over the past several years. You can blame that on the war machine that insists on spending $2 a week on wars that do not involve us.

Anyone who backs Obama and his Corporate puppet masters need to rethink what they want! NOT ME!

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Grabitz to POODYLO... 2011/12/08 20:07:54

Well the only being that OWNS ME is GOD himself . If you keep bowing before your money masters you have a serious problem . Personally I did not create this debt this country is in and will now bow before the great money Gods , let Bush and Obama do the bowing its just not in me they created it so hold both of them responsible and let my people go and prosper just as i hope you prosper as well as I am .

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ConLibF... to Grabitz 2011/12/08 18:28:35

+1
I am with you! They are nothing but criminals.

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Soup Man 2011/12/08 16:59:45

Thanks for the info

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