The city of Miami claims in a new lawsuit that JP Morgan Chase engaged in discriminatory lending practices for years that worsened the foreclosure crisis in minority neighborhoods.
The lawsuit filed last week in Miami federal court claims the bank has engaged in prohibited lending practices since at least 2004. The city says loans were disproportionately made in black and Hispanic neighborhoods with burdensome terms, leading to a far greater rate of foreclosures.
Miami is seeking unspecified damages and an order prohibiting JP Morgan from continuing to make racially discriminatory loans. Bank spokesman Jason Lobo says the lawsuit has no merit and that JP Morgan has a strong record of providing housing to low- and moderate-income families in South Florida.
The city of Los Angeles recently filed a similar lawsuit.
Texas ag commissioner says state’s beef is Chipotle-worthy
The Texas agriculture commissioner on Monday aired a beef with Chipotle Mexican Grill and wants to talk with its founder after the company decided to import grass-fed beef from Australia.
Commissioner Todd Staples in a letter dated Monday says it is misguided and irresponsible for Chipotle founder Steve Ells to believe that Australian meat is raised more responsibly than cattle in Texas, the nation’s leading producer, or other states.
Staples wrote he was shocked that Chipotle is getting beef from 8,000 miles away when there are producers galore in Texas.
Ells last month defended the move by writing for the Huffington Post that Chipotle was having difficulty getting beef it prefers from U.S. producers because the lingering drought is leading to the smallest herd in decades.
The U.S. Agriculture Department said in January that the U.S. cattle herd was 89.3 million head, the lowest since 1952.
Target says technical glitch led to delays at checkout time
Target says it’s fixed a technical issue that caused delays at registers in some U.S. stores, but officials stressed that the glitch was not related to a recent data security breach.
The retailer sent a message from its Twitter account late Sunday as shoppers took to social media to complain.
The Minneapolis company did not immediately respond Monday to questions from The Associated Press about what led to the incident or how many stores were affected.
The glitch comes as Target grapples with the fallout from a massive pre-Christmas security breach that compromised the credit cards and personal information of millions of customers and exposed a huge security flaw.
Target Corp. is overhauling its security and technology departments and its systems. In late April, it ousted its CEO and is now looking for a new leader. The company’s fourth-quarter profit fell 46 percent.
Local building permit forum will explain updated process
Greater Fort Wayne Inc. is hosting an informational forum on the new streamlining of permit applications to build, expand or relocate businesses.
The forum is scheduled from 8 to 9:30 a.m. Thursday at the 1st Source Bank building, 200 E. Main St., in the Ventura Room.
Anyone interested in attending should make a reservation at www.greaterfortwayneinc.com or email firstname.lastname@example.org.