Status: closed
US Bank (Forced-Placed Insurance)
Defendant: US Bank
US Bank agreed to a settlement regarding its forced-placed hazard insurance practices on homeowners. The lawsuit alleges that US Bank forced consumers to purchase unnecessary expensive hazard insurance. The bank received kickbacks from the insurers for choosing the more-expensive policies for the homeowners. Borrowers who paid for overpriced hazard insurance premiums issued by certain insurance companies between April 8, 2009 and June 30, 2015 may be eligible to receive back up to 12.5% of the premium.