JPMorgan Chase Agrees To Pay $300M To Resolve Force-Placed Insurance Suit

MIAMI - JPMorgan Chase Bank N.A. said in a Sept. 6 motion for preliminary approval filed in Florida federal court that it would pay $300 million to resolve claims brought by a class claiming that the bank overcharged borrowers when obtaining force-placed insurance policies for them if they let the hazard insurance on their homes lapse (Alfred Herrick v. JP Morgan Chase Bank, N.A., et al., No. 13-cv-201107, S.D. Fla.).

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