May 11, 2015
Wells Fargo Bank NA and Assurant Inc. settled a putative class action in Illinois federal court Monday in which the two sides were accused of conspiring to inflate the cost of force-placed hazard insurance in order to provide kickbacks to the bank.
December 13, 2013
Wells Fargo Bank NA asked an Illinois federal judge on Thursday to toss a proposed class action brought by mortgage borrowers alleging it made kickbacks off force-placed insurance policies, arguing it had fully disclosed it would earn commissions from the policies and there was no proof its actions were unjust.
August 27, 2013
An Illinois federal judge on Monday rebuffed a battery of challenges to a putative class action targeting Wells Fargo Bank NA's force-placed insurance practices, preserving claims that the bank reaped illegal kickbacks for imposing overpriced Assurant Inc. hazard policies on mortgagors.