City of Los Angeles v. Wells Fargo & Co.
Opinion
Lead Opinion
Wright, J.
ORDER DENYING DEFENDANTS’ MOTION TO DISMISS [21] AND DENYING DEFENDANTS’ MOTION TO STRIKE [22]
I. INTRODUCTION
This action arises from Defendants Wells Fargo & Co. and Wells Fargo Bank, N.A.’s alleged discriminatory lending practices. However, unlike many of the home-mortgage cases before this Court, Plaintiff in this action is not a mortgagor but rather the City of Lds Angeles (“the City”). The City is seeking damages in the form of lost property tax revenue and increased municipal services stemming from foreclosures that were allegedly a result of Defendants’ discriminatory lending practices.
Before the Court is Defendants’ Motion to Dismiss the Complaint under Federal Rules of Civil Procedure 12(b)(1) and 12(b)(6). (ECF No. 21.) The Motion is based on several grounds including lack of Article III and statutory standing, expiration of the statute of limitations, and failure to state a claim. Also before the Court is Defendants’ Motion to Strike Portions of Plaintiffs Complaint. (ECF No. 22.) For the.reasons discussed below, the Court DENIES both Motions.
II. FACTUAL BACKGROUND
The City filed the Complaint on December 5, 2013, asserting two claims for (1) violating the…