Citigroup To Pay $110M to Settle Lawsuit Over Force-Placed Insurance
February 06, 2014 at 16:44 PM EST
Citigroup (NYSE: C ) has agreed to pay $110 million to thousands of homeowners after they were charged expensive property insurance premiums, according to Reuters. The lawsuit filed in a New York federal court involves “force-placed insurance,” which is usually placed by a bank to protect their stake in