Several banks and brokers have reached settlements with the city of
Oakland over lawsuits that accused them of illegally evicting tenants
in foreclosed buildings, officials said Friday.
JPMorgan Chase Bank will pay the city $35,000, Mill Valley
realestate broker Joseph McNulty will pay $3,000 and Percy Cheung of
Smart Choice Realty will pay $2,500, said Alex Katz, spokesman for City
Attorney John Russo.
Under a law passed by Oakland voters in 2002, landlords must
explain why they are evicting tenants and tell them they can seek
advice from the city rent board. Nonpayment of rent is just cause for
eviction.
In lawsuits filed this year in Alameda County Superior Court, the
city accused JPMorgan Chase and its subsidiaries of violating the law.
"Tenants were ousted from their homes by defendants because a vacant
home is more marketable and easier to sell," the suits said.
The city is in settlement talks in similar suits filed against
Fidelity National Financial and Keller Williams Realty-Oakland/Piedmont.
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