JPMorgan Can't Ditch Force-Placed Policy Action

Law360, New York (March 27, 2012, 4:49 PM EDT) -- Two JPMorgan Chase & Co. subsidiaries must face unfair competition and contract claims in a putative class action over commissions they allegedly received from hazard insurers for forcing mortgage borrowers to obtain expensive policies, a California judge ruled Monday.

Magistrate Judge Joseph C. Spero granted a bid by JPMorgan Chase NA and Chase Bank USA NA to throw out some claims in the suit but said the plaintiffs could move forward with others, including one under California's unfair competition law, or UCL. According to the June...
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