U.S. Bank Force-Placed Insurance Class Action Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:

According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

Plaintiffs in this lawsuit allege that when a borrower was required to have insurance for his or her property pursuant to a residential mortgage or home equity loan or line of credit, and evidence of acceptable coverage was not provided, U.S. Bank would place insurance in a manner such that U.S. Bank allegedly received an unauthorized benefit.  They also allege that U.S. Bank received kickbacks and the assurant defendents set rates at an excessive price.

Docket Number:

1:14-cv-21252

Company: U.S. Bancorp

Filing Deadline: October 30, 2016

Class Period: April 8, 2009 to June 30, 2015

Objection Deadline: April 12, 2016

Exclusion Deadline: April 12, 2016

Final Approval Hearing: April 12, 2016

Proof of Purchase:

Claimants must provide a valid ID, a copy of the U.S. Bank mortgage statement, and a signature of a witness.

Eligibility:

All borrowers in the United States who were charged by U.S. Bank under a hazard, flood, flood gap or wind-only LPI Policy for residential property and who either paid to U.S. Bank the Net Premium for that LPI Policy or did not pay to and still owe U.S. Bank the Net Premium for that LPI Policy.  The class period is between April 8, 2009 and June 30, 2015.

Typical Settlement Amount:

Settlement shares will vary between 7% and 12.5% of claimants' Net Premiums depending on what insurance was charged to the claimant.

Total Settlement Amount:

Class Representative Proposed Incentive Fee:

$5,000

Law Firm:
Kozyak Tropin & Throckmorton

Claim Form: Claim Form

Case Name: Philip Jackson, et. al. v. U.S. Bank, N.A., et. al

Settlement Website: Jackson, et. al. v. U.S. Bank, N.A. et. al.

Claims Administrator:

Claims Administrator Contact Information:

Toll-free telephone: 1-877-877-0460

Tags: Deceptive Insurance Practices, Forced Placed Insurance, Homeowners Insurance, Your Home