Settlement Structure: Claims Made
Active: Open
Case Summary:Centennial Bank is spending a maximum of $730,000 to settle a class action alleging it engaged in illegal conduct relating to charges for force-placed insurance on real property in the US or its territories. The complaint alleged breach of contract, breach of the covenant of good faith and fair dealing, and unjust enrichment.
Docket Number:4:18-cv-00450-AW-MAF
Company: Centennial Bank
Filing Deadline: April 3, 2023
Class Period: October 1, 2013 to December 31, 2019
Objection Deadline: April 3, 2023
Exclusion Deadline: April 3, 2023
Final Approval Hearing: May 2, 2023
Proof of Purchase:The Claim Form asks for the loan number and reserves the right to request additional documentation.
Eligibility:You may be eligible if you were a borrower and, between October 1, 2013 and December 31, 2019, you were charged by Centennial or its affiliates and not fully refunded for hazard, windstorm, or flood insurance force-placed on real property located in the US or its territories (except for real property in Alabama, for which the class period is between October 1, 2012 and December 31, 2019). For the purpose of this settlement, mobile homes count as real property if they were insured under a real-property master insurance policy.
Typical Settlement Amount:Payment by check or electronic transfer of an amount equal to 9% of the net premium charged for the force-placed insurance. If the amounts of all claims exceed the maximum payment for this settlement, payments will be reduced on a pro-rata basis.
Total Settlement Amount: Up to $730,000
Class Representative Proposed Incentive Fee:Unknown
Law Firms:
Kopelowitz Ostrow Ferguson Weiselberg
Law Offices of Greg L. Davis
Scott + Scott Attorneys at Law LLP
Claim Form: Centennial Bank Settlement Claim Form
Case Name: Penton v. Centennial Bank et al
Settlement Website: Centennial Bank Settlement Website
Claims Administrator:
Analytics Consulting, LLC
Penton v. Centennial Bank
c/o Analytics Consulting LLC
P.O. Box 2003
Chanhassen, MN 55317-2003
claims@centennialbanksettlement.com
855-529-6822