JPMorgan Chase has joined Wells Fargo, Citigroup and Bank of America as a list of financial institutions that have been sued for predatory lending. The company allegedly targeted Black and Latino candidates to take out riskier loans than white borrowers in the same situation, resulting in a disproportionate foreclosure rate during the housing crisis from 2008 to 2012. 

The lawsuit filed by the city of Los Angeles cited that the loans JPMorgan Chase made in predominantly Black or Latino areas were more than twice as likely to go into foreclosure than the loans made in white areas. It also claimed that homes of Black and Latino borrowers were foreclosed on faster. 

The company has denied its role in predatory lending.