JPMorgan Chase agreed to a $300 million settlement in a class-action lawsuit brought on behalf of 1.3 million homeowners nationwide who claimed they were overcharged for forced-place insurance.
September 06, 2013 at 11:00 PM
1 minute read
The original version of this story was published on Daily Business Review
JPMorgan Chase & Co. agreed today to a $300 million settlement in a class-action lawsuit brought on behalf of 1.3 million homeowners nationwide who claimed they were overcharged for forced-place insurance.
Consumers charged mortgage lenders that received no proof of homeowners insurance imposed policies that were far more expensive than market rates and received hefty commissions from the insurance companies writing the policies.
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