Huge news out of Los Angeles. The City Attorney has sued Deutsche Bank for its treatment of tenants after foreclosure. Tenants Together welcomes this major step toward holding banks accountable for abusing tenants after foreclosure.
Click here for L.A. Times Coverage, and here for the City Attorney's press release.
According to the City Attorney's Office, "Deutsche Bank has become one of the largest slumlords in the City of Los Angeles."
In addition to holding Deutsche accountable for its conduct, this case should serve as a warning to all financial institutions acquiring foreclosed properties that they had better start acting like responsible landlords when they acquire renter-occupied properties.