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Wednesday, October 1, 2014

CFPB Takes Action Against Michigan Title Insurance Agency

The CFPB ordered a Michigan title insurance agency to pay a civil money penalty of $200,000 for illegal quid pro quo referral agreements. The Bureau found that the title insurance agency violated Real Estate Settlement Procedures Act (RESPA), which prohibits, among other things, providing something of value to any person with an agreement or understanding that the person will refer real estate settlement services.

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