If you ever were a customer of BB&T from Jan. 1, 2010 to Aug. 12, 2016 and was charged a mandatory insurance fee for your residential property, you may be eligible for different forms of compensation listed below. BB&T has entered into a settlement regarding their forced insurance policy on borrowers after their policies either lapsed or failed to maintain a home owner’s policy that matched with BB&T’s requirements. BB&T has denied any wrongdoing but has agreed to the settlement. So if you are eligible, file a claim by 04/10/17 to receive your potential award!
BB&T Class Action Lawsuit:
- BB&T Insurance Claim Form
- Claim Form Deadline: 04/10/17
- Who’s Eligible: Class members are eligible if you were a customer of BB&T from Jan. 1, 2010 to Aug. 12, 2016 and was charged a mandatory insurance fee for your residential property
- Estimated Amount:
- 5% of the net premium you were charged by BB&T for a flood or wind force-placed insurance policy procured by ASIC during the Class Period, or charged by BB&T for a hazard force-placed insurance policy procured by ASIC on or after June 1, 2014;
- 8% of the net premium if you were charged by BB&T for a hazard force-placed insurance policy that was procured by ASIC before June 1, 2014;
- 10% of the net premium if you were charged by BB&T for a hazard, flood or wind force-placed insurance policy procured by BB&T from any insurance carrier on or before Dec. 31, 2012; or
- 5% of the net premium if you were charged by BB&T for a hazard flood or wind force-placed insurance policy on or after Jan. 1, 2013 and the policy was procured by Overby-Seawell Company during the Class Period.
- Proof of Purchase: N/A
- Case Name & Number: Beber v. Branch Banking and Trust Co., Case No. 1:15-cv-23294, in the U.S. District Court for the Southern District of Florida
How to File a Claim:
- Head on over to the BB&T Insurance Claim Form
- Read over the claim form to see if you are eligible.
- Fill out the claim form with your information.
- Submit your claim by 04/10/2017 to receive your potential award!
Bottom Line:
If you’ve ever been charged an insurance fee under BB&T from Jan. 1, 2010 to Aug. 12, 2016 for a hazard, flood, flood gap or wind-only force-placed insurance policy and paid for the policy, you may be eligible for a claim in the settlement. According to the settlement, plaintiffs claimed that they were charged a forced insurance policy that was excessively expensive. BB&T has denied any wrongdoing but has agreed to the settlement. So if you are eligible, file a claim by 04/10/2017 to receive your potential award! Don’t forget to take a look at our full list of Class Action Lawsuit Settlements!
| Bank | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| EFCU Financial | LA | 1.60% | $100k | --- | 6-Month Jumbo CD | Review |
| TTCU Federal Credit Union | OK | 1.44% | $100k | --- | 6-Month Income CD | Review |
| TEXAR Federal Credit Union | AR, TX | 1.25% | $1k | --- | 6-Month CD | Review |
| Texas Bridge Credit Union | TX | 1.01% | $25k | --- | 6-Month Mini Jumbo CD | Review |
| Community First Credit Union | WI | 0.80% | $2.5k | --- | 6-Month CD | Review |
| MapleMark Bank | Nationwide | 0.75% | $25k | --- | 6-Month CD | Review |
| Advancial | OK, LA, TX, AK | 0.72% | $1k | --- | 6-Month CD | Review |
Thank you for bringing that to our attention – it has been updated to reflect BB&T estimated amounts from the class action lawsuit. Thanks for being a reader of HMB!
BB&T “Estimated Amount” paragraph got mixed up with Remington’s