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HSBC, Assurant Mired In Force-Placed Coverage Class Action

By Andrew Scurria (March 28, 2014, 8:06 PM EDT) -- A New York federal judge on Thursday refused to absolve HSBC Bank USA NA of taking kickbacks in return for forcing excessive Assurant Inc. flood insurance on mortgagors, finding that standard lending contracts do not unambiguously afford the bank the right to select coverage limits....

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