JPMorgan Chase Force-Placed Flood Insurance Litigation
Berger Montague served as co-lead counsel in this litigation against JPMorgan Chase Bank, N.A. (“Chase”) in the United States District Court for the Northern District of California. The action alleged that JPMorgan Chase Bank schemed to require certain borrowers to (1) purchase flood insurance at inflated cost due to the bank’s conduct, and (2) purchase flood insurance coverage in excess of the amount required by their mortgage contract or federal law. The parties reached a settlement that created a common fund of $22.1 million for the benefit of the class.
On June 6, 2014, the Court granted final approval of the settlement.
The following documents are available for download:
Berger Montague’s Predatory Lending and Borrowers’ Rights group vigorously represents homeowners against major banks. To find out about investigations, as well as pending and settled cases, please visit our Predatory Lending and Borrowers’ Rights page.