Wells Fargo hit with â€˜bad faith' lawsuit on home insurance

2012-07-13 — nypost.com

Wells Fargo Bank charges inflated premiums when it procures "force-placed" property insurance for homeowners whose coverage has lapsed, a Pompano Beach, Fla., lawyer claimed in a lawsuit.
"The premiums are inflated to cover kickbacks in the form of unearned commissions and bundled administrative costs not properly charged to the consumer," plaintiff Ira Fladell alleged in a federal court complaint filed in Fort Lauderdale, Fla., yesterday.

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