Citibank To Pay $110M In Force-Placed Insurance Settlement

Law360, Los Angeles (February 05, 2014, 8:54 PM ET) -- Citibank NA has agreed to pay more than $110 million to settle a putative force-placed insurance class action accusing the bank of forcing homeowners to carry excessive flood and hazard coverage and profiting from it, according to documents filed Wednesday in New York federal court.

Named plaintiffs Gordon Casey, Duane Skinner and Celeste Coonan filed their motion for preliminary approval of the class action settlement, seeking to go forward with a deal that would end the dispute over force-placed insurance, which is placed on a home...
To view the full article, register now.