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US Bank will pay $13.5M for letting LA homes sit empty for years

Many of the homes have fallen into disrepair and have become “sources of blight” US Bank has agreed to pay $13.5 million to the city of Los Angeles for allowing hundreds of foreclosed homes to fall into disrepair in recent years, the City Attorney’s office announced Thurday. The city sued the bank in 2012, when it owned more than 1,500 properties in Los Angeles that had been acquired through foreclosure.
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