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Sep
29

CFPB Takes Action Against Real Estate Settlement Services Provider for Steering Consumers to Affiliated Business

Pursuant to the Dodd-Frank Act and the Real Estate Settlement Procedures Act, real estate professionals must disclose any affiliated businesses, such as title companies, when making referrals to clients. Below is a link to a press release from the Consumer Financial Protection Bureau (CFPB) regarding an enforcement action against an Indiana real estate settlement services provider for illegally steering customers to the company’s affiliated businesses and failing to disclose the affiliated business relationship.

https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-real-estate-settlement-services-provider-steering-consumers-affiliated-business/

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