During the last few years, the title industry, its customers and regulators have been attempting to find a way to curb the increasingly visible problem of defalcation. One of the solutions that has been presented is the proliferations of closing protection letters. States have latched onto this solution, putting forth legislation to oversee and extend the use of this protection. But are closing protection letters the silver bullet to the defalcation problem? During the National Settlement Services and Compliance Summit in Cleveland, panel members talked about CPLs in their discussion of solutions to the situation.