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In the News

11th Circ. Told To Nix BofA $228M Force-Placed Insurance Deal

Two members of a settled class action accusing Bank of America NA of accusing the bank of overcharging homeowners for forceplaced insurance told the Eleventh Circuit on Tuesday that the $228 million deal shouldn’t have been approved because the settlement amount is illusory.

Allegedly abusive mortgage insurance deals lead to class action settlement

Anyone who has taken out a home mortgage knows that one of the borrower’s key responsibilities is to pay hazard insurance premiums on the property and not let the policy lapse. But are you aware that if you fail to keep the insurance current, or if the premiums aren’t paid from your escrow account, the lender or its mortgage servicer can obtain its own coverage, which may cost you more than the policy you originally chose?

Young leaders don’t want the top job

At a time when 10,000 boomers a day are retiring, businesses need young workers to lead their companies into the future. But only 11 percent of millennials said they aspire to senior level positions at their company, found a recent study by talent management firm Saba and WorkplaceTrends.com.

Champerty Clarified

By Lawrence V. Geber and David J. Karp Volume 27, Number 7   Click here for the original article.