Homeowners Fight $300M JPMorgan Forced-Place Deal

Law360, Miami (January 22, 2014, 5:43 PM EST) -- Several members of a class of homeowners suing JPMorgan Chase NA and Assurant Inc. over their forced-place insurance business, which was allegedly overpriced due to kickbacks between insurers and lenders, on Tuesday objected to a $300 million settlement they say unfairly requires class members to submit claims forms.

In an objection filed in the Southern District of Florida, seven class members said the settlement is “not the product of 'informed negotiations'" and should be rejected because of the claims forms requirements and the defendants' unilateral power...
To view the full article, register now.