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CITY OF CINCINNATI v. DEUTSCHE BANK NAT. TRUST CO.

No. 16-3752.

863 F.3d 474 (2017)

CITY OF CINCINNATI, Plaintiff-Appellant, v. DEUTSCHE BANK NATIONAL TRUST COMPANY, et al., Defendants, Wells Fargo Bank, N.A.; Wells Fargo Bank, N.A., as Trustee, Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: July 11, 2017.

Attorney(s) appearing for the Case

ARGUED: Jessica L. Powell , CITY OF CINCINNATI, Cincinnati, Ohio, for Appellant. David Dunn , HOGAN LOVELLS US LLP., New York, New York, for Appellees. ON BRIEF: Jessica L. Powell , Jacklyn Martin , CITY OF CINCINNATI, Cincinnati, Ohio, for Appellant. David Dunn , HOGAN LOVELLS US LLP., New York, New York, Sean Marotta , HOGAN LOVELLS US LLP., Washington, D.C., James E. Burke , KEATING MUETHING & KLEKAMP PLL., Cincinnati, Ohio, for Appellees.

SUTTON, J., delivered the opinion of the court in which KETHLEDGE, J., joined and COLE, C.J., joined in part. COLE, C.J. (pp. 481-84), delivered a separate opinion concurring in part and dissenting in part.

OPINION

A bank customarily has the right to take title to a property if the borrower fails to repay the loan used to purchase it. After the 2008 financial crisis, many banks foreclosed on many properties used to secure the underlying loans. According to the City of Cincinnati, one financial institution based out...

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