I read this New York Times article (click here) to say that a Bank of America subsidiary was doctoring accounts in order to sell force-placed insurance on accounts that didn’t need it. (Do you agree with my reading? I think that’s one of the problems with relying on blogs as a news source: you may get it faster, but it may be sloppily written and not checked for accuracy in the same way. I tend to think that’s the world we’re headed towards–a world of opinion rather than fact. Did Nietzsche call it 130 years ago or what?) In other words, the homeowner had insurance in place, and the subsidiary would put a more expensive policy in place and then bill the homeowner. Naughty.
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