Wells Fargo Gets Forced-Placed Insurance Class Tweaked

Law360, New York (July 25, 2012, 5:57 PM EDT) -- A Florida federal judge on Wednesday allowed only a slight change to a class of homeowners that alleges Wells Fargo Bank NA received kickbacks from QBE Specialty Insurance Co. for pushing overpriced property insurance, excluding homeowners who had legal judgments against them.

Wells Fargo and QBE is accused of colluding to bump up premiums charged to homeowners on force-placed insurance policies, in which the bank forcibly enrolls borrowers in home hazard insurance if their existing policies lapse.

On Wednesday, U.S. District Judge Robert N. Scola Jr....
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