Wells Fargo Force-Placed Home Insurance Action Nixed

Law360, New York (December 19, 2011, 8:19 PM EST) -- Just days after the complaint was filed, a Florida federal judge on Monday tossed a putative class action over Wells Fargo Bank NA's allegedly unlawful force-placed, competition-dampening insurance policies on jurisdictional grounds.

The case was filed Friday against Wells Fargo, Assurant Inc. and American Security Insurance Co., alleging that they were all involved in a scam by which Wells Fargo customers would be automatically signed up for an unreasonably expensive real estate insurance policy if they did not find another one before their previous policy expired,...
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