Bank accused of charging its mortgage clients inflated homeowners coverage premiums. A lawsuit has been filed against Wells Fargo Bank NA, which has accused the company of charging inflated force placed insurance premiums to homeowners who had allowed their coverage to lapse. The complaint stated that the inflated premiums are designed to cover kickbacks. The Fort Lauderdale, Florida federal court received the filing, in which homeowner Ira Fladell stated that “The premiums are inflated to cover kickbacks in the form of unearned commissions and bundled administrative costs not properly charged…
Read MoreForced place insurance lawsuit filed against Wells Fargo
