HSBC Holdings and Wells Fargo & Co. agreed to settle lawsuits by mortgage holders who alleged they were forced to pay for property insurance at inflated rates.

HSBC will pay as much as $32 million to resolve the claims, according to the proposed settlement agreement filed Feb. 28 in federal court in Miami. The Wells Fargo settlement agreement, filed yesterday in Miami, didn’t specify the total amount the lender may pay.

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