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This settlement is closed!
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Centennial Bank agreed to a $730,000 lawsuit settlement to resolve claims it violated mortgage agreements with force-placed insurance policies.
The force-placed insurance settlement benefits borrowers who, between Oct. 1, 2013, and Dec. 31, 2019, paid for hazard, windstorm and/or flood insurance policy premiums force-placed by Centennial Bank on real property.
The settlement also benefits a separate class of Alabama borrowers who paid the same premiums between Oct. 1, 2012, and Sept. 30, 2013.
Plaintiffs in the class action lawsuit accused Centennial Bank of force-placing unfair hazard, windstorm and flood insurance policies on real property. These policies allegedly violated policy terms and state laws.
Centennial Bank is a commercial and retail banking company with locations in Arkansas, Florida, Alabama and New York.
Centennial Bank hasn’t admitted any wrongdoing but agreed to a $730,000 class action settlement to resolve these allegations.
Under the terms of the force-placed insurance settlement, class members can receive up to 9% of the net premiums they paid during the class period. Payments may be reduced from 9% reimbursement depending on the number of claims filed. Exact payment amounts will vary.
The deadline for exclusion and objection is April 3, 2023.
The final approval hearing for the settlement is scheduled for May 2, 2023.
To receive a payment, class members must submit a valid claim form by April 3, 2023.
Who’s Eligible
Borrowers who, between Oct. 1, 2013, and Dec. 31, 2019, paid for hazard, windstorm and/or flood insurance policy premiums force-placed by Centennial Bank on real property.
Potential Award
Varies
Proof of Purchase
N/A
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
04/03/2023
Case Name
Penton, et al. v. Centennial Bank, et al., Case No. 4:18-cv-00450-AW-MAF, in the U.S. District Court for the Northern District of Florida
Final Hearing
05/02/2023
Settlement Website
Claims Administrator
Penton v. Centennial Bank
c/o Analytics Consulting LLC
P.O. Box 2003
Chanhassen, MN 55317-2003
claims@centennialbanksettlement.com
855-529-6822
Class Counsel
Joseph P Guglielmo
SCOTT + SCOTT ATTORNEYS AT LAW LLPÂ Â
Greg L Davis
LAW OFFICE OF GREG DAVIS LLP
Robert C Gilbert
KOPELOWITZ OSTROW FERGUSON WEISELBERG GILBERT
Defense Counsel
Keith L Bell Jr
CLARK PARTINGTON
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2 thoughts onCentennial Bank force-placed insurance $730K class action settlement
I haven’t received a check from the bank either I’m still waiting on them when are they coming
I am waiting on a lot of checks that I have done complex at the file this year and I haven’t received anything