Regions Bank Forced-Placed Insurance Class Action Settlement
You are a member of this class if you are a borrower in the United States who, between Jan. 1, 2009 and June 22, 2016 and you were charged by Regions Bank under a hazard or wind-only force-placed insurance policy for residential property, and who either paid Regions Bank the net premium for the policy or who did not pay and still owe Regions Bank the net premium for the policy.
Claimants may receive either a cash payment or a credit toward what they owe Regions Bank, depending on whether they paid their force-placed insurance premium.
Class Members who were charged for a hazard or wind force-placed insurance policy on or before Oct. 31, 2013 will receive 12.5 percent of the net premium charged during the Class Period.
Class Members who were charged for a hazard or wind force-placed insurance policy on or after Nov. 1, 2013 will receive seven percent of the net premium charged during the Class Period.
Proof of Purchase
Ziwczyn, et al. v. Regions Bank, et al., Case No. 1:15-cv-24558-FAMDistrict Court for the Southern District of Florida
The lawsuit alleges that Regions Bank placed excessive insurance policies on borrowers’ homes when their policies had lapsed or otherwise provided inadequate coverage.
Region’s bank denies the allegations but has agreed with all parties to settle