BofA Withheld Insurance Funds, Homeowners Claim

Law360, New York (April 11, 2013, 6:49 PM EDT) -- A putative class action launched Thursday in Oklahoma federal court accuses Bank of America NA of improperly holding back insurance payments from homeowners who needed them for property repairs.

Cynthia and James Copher and James and Rosamma Richard say the bank violated mortgage agreements requiring it to release proceeds from insurance claims to either allow repairs or reduce outstanding mortgage payments. The plaintiffs say their insurers have written checks for about $20,000 to go toward repairs for significant hail damage, but that Bank of America still...
To view the full article, register now.




Case Information

Case Title

Copher et al v. Bank of America NA et al

Case Number



Oklahoma Western

Nature of Suit

Contract: Other


Vicki Miles-LaGrange

Date Filed

April 11, 2013

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.