Plaintiffs Move For Approval Of $22M Settlement Of Force-Placed Insurance Suit

SAN FRANCISCO - Plaintiffs in a putative class action suit against JPMorgan Chase Bank N.A. on Dec. 17 moved in California federal court for approval of a $22 million settlement in which the lender agreed to resolve allegations over its purchasing of force-placed flood insurance policies for borrowers for amounts that exceeded those required by federal law (Shelly Clements, et al. v. JPMorgan Chase Bank, N.A., et al., No. 12-cv-02179-JCS, N.D. Calif.).

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