Judge Trims Wells Fargo, QBE Policy Kickbacks Action

Law360, New York (September 20, 2011, 3:54 PM EDT) -- A Florida federal judge on Monday trimmed a putative class action accusing Wells Fargo & Co. subsidiaries of forcing high-priced homeowners insurance on mortgage holders after policies lapsed and reaping kickbacks for that business from QBE Insurance Group Ltd.

U.S. District Judge Cecilia M. Altonaga dismissed claims that Wells Fargo Bank NA and Wells Fargo Insurance Inc. violated the Real Estate Settlement Procedures Act and that a mortgage contract provision enabling the force-placed insurance practices was unconscionable.

But the judge also preserved the homeowners' claims for...
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