Fifth Third, BofA Got Reinsurance Kickbacks, Suits Say

Law360, New York (April 6, 2012, 6:31 PM EDT) -- Fifth Third Bank NA was hit with a putative class action Friday alleging it reaped millions of dollars in illegal referrals from private mortgage insurers, one day after homeowners brought similar kickback claims against fellow lending giant Bank of America NA.

The nearly identical complaints, filed in Pennsylvania federal court by the same collection of law firms, target an alleged widespread pay-to-play scheme in which top national banks referred homeowners to insurers in exchange for a cut of those customers' reinsurance premium payments.

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Case Information

Case Title

RIDDLE v. BANK OF AMERICA CORPORATION et al


Case Number

2:12-cv-01740

Court

Pennsylvania Eastern

Nature of Suit

Real Property: Other

Judge

BERLE M. SCHILLER

Date Filed

April 5, 2012


Case Title

MANNERS et al v. FIFTH THIRD BANK et al


Case Number

2:12-cv-00442

Court

Pennsylvania Western

Nature of Suit

Real Property: Other

Judge

Mark R. Hornak

Date Filed

April 6, 2012

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