Citing a failure to properly disclose an affiliated business arrangement to consumers over a three-year period, the Consumer Financial Protection Bureau (CFPB) handed down an enforcement action to one of the largest independent title agents in the country.
The action comes with a $1.25 million penalty for consumer redress to what the CFPB estimates is more than 7,000 affected consumers from 2014-2016.
Read on for details about the arrangement the CFPB found at issue, as well as input from RESPRO.
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