Farmers To Pay $60M To Settle Credit Score Action

Law360, New York (May 23, 2011, 1:40 PM EDT) -- Farmers Insurance Co. Inc. and its affiliates have agreed to pay up to $60 million to settle an Oklahoma class action claiming they used consumers' credit scores to increase premiums without providing adequate notice, the plaintiffs said Friday.

If the settlement is approved, Farmers and the affiliates will shell out $52 million to the class, and up to $8 million more in attorneys' fees and costs, to end the litigation brought by Harry Corl, David Watts Jr. and Donna Mobbs.

The class action, part of a...
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