The city of Miami has dropped its lawsuit against the nation’s four largest banks over allegations of discriminatory mortgage lending during the housing bubble leading up to the financial crisis. The city alleged back in 2013 and 2014 that it suffered harm, mostly from lost tax revenue, as a result of predatory lending practices by JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup in the early 2000s.

Atlanta partner Craig Nazzaro believes the move might thwart other municipalities from filing similar lawsuits for now. But he expects another wave of lawsuits by municipalities if there’s another economic downturn, with cities trying to recoup lost tax revenue from banks.

“I do think that if there is an argument to be made, some municipality will eventually try it if they see a large enough payout at the end of the road,” he told The American Banker.

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