Welcome to the Citibank Cases Settlement website.

UPDATE: The Court granted Final Approval of the settlement on August 21, 2014. To view the Order Granting Final Approval of the Settlement and the Order Granting Attorneys’ Fees & Expenses, please visit the Court Documents page.

The date of disbursement to class members who submit approved Claim Forms will be on March 20, 2015. The date of disbursement to class members who submitted a previously deficient claim that has been cured will be on April 21, 2015.

This website contains information regarding a class action settlement that has been approved by the Court in Citibank Cases Settlement, States District Court for the Northern District of New York Case No.: 1:13-cv-00353.

NATURE OF THE SETTLEMENT

This class action lawsuit alleges that Defendants Citibank, N.A. and CitiMortgage, Inc. (collectively, "Citi") violated the legal rights of borrowers by either:

  • by unlawfully forcing borrowers who reside in flood zones to carry excessive flood insurance coverage for their property and by improperly profiting from the force-placement of flood insurance.

-OR-

  • improperly profiting from the force-placement of hazard insurance through Assurant, Inc., American Security Insurance Company, and Standard Guaranty Insurance Company) (collectively, "Assurant"), which paid allegedly unlawful commissions to an affiliate Citi.

Citi denies that it has acted unlawfully, but has agreed to enter into this Settlement to resolve these allegations.

THE SETTLEMENT CLASSES

There are two types of Settlement Classes for this case, the Flood Settlement Class and the Hazard Settlement Class. They are defined as:

Flood Settlement Class

All persons who were charged by Citi for lender-placed flood insurance (unless such charge was flat cancelled and refunded in full) in connection with a mortgage loan, home equity loan, or home equity line of credit secured by property in the United States during the time period from May 17, 2006 through April 2, 2014 (the "Flood Settlement Class").

Hazard/Wind Settlement Class

All persons who were charged by Citi for lender-placed hazard/wind insurance (unless such charge was flat cancelled and refunded in full) in connection with a mortgage loan, home equity loan, or home equity line of credit secured by property in the United States during the time period from January 1, 2007 through April 2, 2014 (the "Hazard Settlement Class"). For purposes of this class definition, the term hazard insurance includes insurance against any type of hazard (e.g., fire, windstorm, etc.), except for floods.