Processing .....please wait.. 
The article has been forwarded.... 
Indians Accuse U.S. Bank of Discrimination
WASHINGTON: A Michigan judge has ruled that an unusual lawsuit alleging discrimination against a bank set up by members of the local Indian and East Asian business community by two of its Indian customers can proceed.
Oakland County Circuit Court Judge Denise Langford Morris on Wednesday ruled that the case against Novi-based Lotus Bancorp Inc. and three of its senior officers can proceed. She, however, denied a motion to establish it as a class-action lawsuit.
According to crainsdetroit.com, what makes the lawsuit unusual is that Lotus Bancorp, the holding company for Novi-based Lotus Bank, was founded in 2007 by members of the local Indian and east Asian business community. Most of those who invested in the bank were of Indian descent. Most of its board members are Indian.
And yet two of the bank's Indian customers, Jasit Takhar and Anil Gupta, last March filed the case alleging discrimination when they fell behind on payments on a nearly $1.5 million loan from Lotus to buy a Travelodge motel in Jackson.
The lawsuit is based on a series of emails in 2010 and 2011 by the bank's president, Neal Searle, and one of its executive vice presidents, Richard Bauer, who is also the bank's CFO, crainsdetroit.com said.
Also Read: Indian American Professor Receives Top U.S. Environmental Award
Also Read: Bobby Jindal Gets 50 Percent Approval in Republican Poll
Source: IANS
