JPMorgan's $300M Force-Placed Insurance Deal Gets OK

Law360, Los Angeles (October 4, 2013, 8:57 PM EDT) -- A Florida federal judge granted preliminary approval Friday for a $300 million settlement between a class of homeowners and JPMorgan Chase NA and Assurant Inc. over their forced-place business insurance, which was allegedly over-priced due to kickbacks between insurers and lenders.

Approval of the settlement deal is contingent upon a final approval hearing before U.S. District Judge Federico Moreno, which is scheduled for Feb. 14. The judge preliminarily certified a nationwide settlement class of borrowers who were charged under Chase's hazard lender-placed insurance policy for residential...
To view the full article, register now.

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.