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Citigroup Flood Insurance: Forced Placed Coverage Lawsuit Settlement

The New York Department of Financial Services is investigating the force-placed insurance practices of several banks. A Citibank borrower testified in court that he was forced to purchase flood insurance at the lender’s request. The lawsuit focuses on the practices of the company’s mortgage bankers, and a recent settlement could result in millions of dollars …


GM Transmission Lawsuit

A GM transmission lawsuit alleges that GM knew or should have known about a defect in their transmissions during their sale, but did not disclose it to consumers. According to a GM transmission lawsuit, this defect affected about 5.5 million vehicles sold in the United States. In addition to these defective vehicles, these lawsuits allege …


Forced Placed Flood Coverage Lawsuits

The New York State Department of Financial Services has subpoenaed 31 banks and financial institutions to investigate the overlap between banking and insurance. This investigation may result in more force-placed insurance lawsuits against banks and insurance companies. In the meantime, consumers should learn more about what to do in the case of flood insurance fraud. …


Fire Pots and Fuel Gel Lawsuit

The CPSC began an investigation into injuries caused by fire pots in the spring of 2011. While Bird Brain’s CEO claimed that the company conducted extensive tests, this isn’t true. Rather, the company failed to conduct Failure Modes and Effects Analysis (FMEA), a standard component of a product’s safety analysis. This process evaluates all possible …