Karl Heideck Engages Wells Fargo In Lawsuit

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Karl Heideck graduated from Swarthmore College in 2003 with a bachelor’s in english and literature. He later received a juris doctorate with honors from the Beasley School of Law with Temple University in 2009.

Upon graduation, he joined Conrad O’Brien as an associate. Later, he joined Pepper Hamilton. His experiences geared him toward business law. He is currently a member of the prestigious Grant and Eisenhower Law agency in Philadelphia.

His current concentrations are on civil litigation, corporate compliance and risk management assessments. He has also championed class action suits stemming from corporate misconduct. He currently is suing banking giant Wells Fargo on behalf of the City of Philadelphia.

Karl Heideck’s suit alleges that the bank is using a 90 year old banking practice called redlining which systematically denies loan options to certain undesirable homebuyers, usually minorities, in certain neighborhoods. The suit charges that this practice contributes to segregation in direct contradiction of 1968 housing legislation combating the issue. It is also the city’s position that this creates high-crime areas costing more resources to keep people safe.

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When the law was originally past, segregation throughout the country was a real problem that was illustrated by racially divided neighborhoods, and disproportionate distribution of civic resources. Much progress has been made since then. When attention is taken from this effort, unfair practices can creep back up.

When it comes to proving this case, the city may be facing an uphill battle. Damage must be proven to the city through their loan practices and that may be hard to pin on just one lender. Also, the effects may not be as drastic as in the past. The company has responded to the suit by claiming it to be frivolous and without merit. Recently, however, the company made the same claim when they were charged with making bogus accounts in their customers names. On those charges, they were found guilty.

Find more about Karl Heideck: http://www.legaldirectories.com/Heideck-Karl-576691-Atty.aspx