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Bank of America Faces Fraud Class Action over Flood Insurance
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Charlotte, NC: A consumer fraud class action lawsuit has been filed against Bank of America for allegedly misrepresenting that flood insurance was required for borrowers' housing cooperative units.
Filed by plaintiffs Pamela and Mark Lemmer, the lawsuit alleges that Bank of America force-placed flood insurance coverage on the Lemmers' cooperative unit even though no flood insurance was required in the first place, and accepted a commission for purchasing this unnecessary insurance at the Lemmers' expense.
According to the Complaint, Bank of America falsely represented to the Lemmers that flood insurance was required for their cooperative unit by their mortgage and/or federal law, even though their mortgage agreement does not contain a flood insurance requirement and federal law does not require flood insurance for cooperative units.
In their class action Complaint, the Lemmers seek relief on behalf of themselves and other housing cooperative borrowers across the country who have been similarly affected by Bank of America' alleged conduct. Based on this alleged conduct, Plaintiffs' Complaint asserts claims against Bank of America for breach of contract/breach of the covenant of good faith and fair dealing and fraud.
Published on Apr-24-12
Filed by plaintiffs Pamela and Mark Lemmer, the lawsuit alleges that Bank of America force-placed flood insurance coverage on the Lemmers' cooperative unit even though no flood insurance was required in the first place, and accepted a commission for purchasing this unnecessary insurance at the Lemmers' expense.
According to the Complaint, Bank of America falsely represented to the Lemmers that flood insurance was required for their cooperative unit by their mortgage and/or federal law, even though their mortgage agreement does not contain a flood insurance requirement and federal law does not require flood insurance for cooperative units.
In their class action Complaint, the Lemmers seek relief on behalf of themselves and other housing cooperative borrowers across the country who have been similarly affected by Bank of America' alleged conduct. Based on this alleged conduct, Plaintiffs' Complaint asserts claims against Bank of America for breach of contract/breach of the covenant of good faith and fair dealing and fraud.
Bank of America Flood Insurance Class Action Legal Help
If you or a loved one has suffered damages in this case, please click the link below and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation.Published on Apr-24-12
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