The attorneys at ZK Law, along with co-counsel at Squitieri & Fearson, LLP, recently filed a federal class action lawsuit against Wells Fargo in the United States District Court of Northern Ohio, Western Division. The complaint is titled Swain v. Wells Fargo Bank, et al., alleging that the bank committed an unlawful scheme involving “force-placed insurance.” Specifically, Wells Fargo scammed unsuspecting homeowners by demanding that they maintain flood insurance for their property in amounts greater than required by law, greater than required by their mortgage agreements, and greater than Wells Fargo’s financial interest in their property, despite any reasonable or lawful basis.
Along with the named plaintiff to the suit, there could potentially be thousands of homeowners and families that have been negatively affected by this or a similar unlawful insurance scheme.
This is not the only lender that has been accused of such insurance schemes, as Bank of America, JP Morgan Chase, Citibank, GMAC and HSBC Mortgage Corporation are currently under investigation regarding similar allegations.
If your bank or lender force-placed an insurance policy on your home, your bank or lender may have treated you unfairly and you may be able to join our class action lawsuit. Contact our firm by filling out our online contact form, by calling attorney David Zoll via phone at (419) 841-9623, or by email to [email protected]
Zoll & Kranz– class action lawyers