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L.A. Accuses US Bank of Being Slumlord

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"This case concerns defendant U.S. Bank National Association, a national bank that has become one of the largest slumlords in the City of Los Angeles." So begins a lawsuit brought by the L.A. city attorney's office. The complaint alleges that U.S. Bank, through foreclosures, has become since 2008 the owner of "thousands of residential properties" in L.A. "which it has completely failed to maintain." The result, it says, is that hundreds of these homes have fallen into disrepair, "causing blight and destabilizing communities."

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