2nd Circuit Rules On Class Representative's Article III Standing

NEW YORK - A Connecticut woman may proceed with a class complaint over title insurance rates against the company she dealt with only, not the other subsidiaries that she alleges also overcharged their customers, the Second Circuit U.S. Court of Appeals ruled June 25, affirming a trial court ruling (...

1st Circuit Reverses Dismissal Of Class Action Suit Over Force-Placed Insurance

BOSTON - A 2-1 panel of the First Circuit U.S. Court of Appeals on Sept. 21 overturned a federal judge in Massachusetts' ruling dismissing a class action suit against Bank of America N.A. regarding its decision to thrice purchase a force-placed flood insurance policy for a woman because it is unclear...

Magistrate: Wells Fargo's Flood Insurance Practices Comply With Law, Contracts

SAN FRANCISCO - A California federal magistrate judge on Oct. 30 found that a group of homeowners' claims that their mortgagee improperly forced them to maintain excessive flood insurance coverage failed because both the respective deeds of trust and federal law permit a lender to require flood insurance...

California Court: Installment Fee Doesn't Violate Competition Law

SAN DIEGO - An insurance company's fee for installment payments is a separate benefit from the premium for insurance coverage and is not unlawful, unfair or fraudulent under the California unfair competition law (UCL), a state appeals court panel held Dec. 13 (In re Insurance Installment Fee Cases...

Judge: Fixed-Rate Doctrine Does Not Bar Claims Over Force-Placed Insurance

CAMDEN, N.J. - A federal judge in New Jersey on Dec. 31 granted in part a mortgage company's motion to dismiss a class action suit stemming from its conduct related to obtaining a force-placed insurance policy for a borrower but found that the plaintiff's claims were not barred by the fixed-rate...

Panel: Professional Services Exclusion Bars Coverage For Claims Against Broker

NEW YORK - The Second Circuit U.S. Court of Appeals on Nov. 21 affirmed a lower federal court's ruling that underlying claims against a securities broker-dealer insured and its president are precluded from coverage by a professional services exclusion in a directors and officers and private company...

Judge Refuses To Certify Class Over Force-Placed Hazard, Flood Insurance

SACRAMENTO, Calif. - A federal judge in California on Dec. 11 refused to certify a class for nationwide borrowers and subclasses for California and New York consumers over SunTrust Mortgage Inc.'s purchase of force-placed hazard and flood insurance policies, finding that calculating the replacement...