News By Edition

The Federal Trade Commission issued a final rule to promote competition by banning non-competes nationwide.

The U.S. Chamber of Commerce sued the Federal Trade Commission (FTC) to block the FTC’s final rule to ban employer noncompete agreements.

Congressman William Timmons (R-S.C.) recently wrote a letter to the Securities and Exchange Commission, requesting it investigate “unusual trading” of the stock of Doma Holdings Inc. prior to its acquisition by Title Resource Group.

Utah Gov. Spencer Cox signed legislation authorizing the state’s insurance department to take enforcement action against a title insurance producer if it does not have an appointment from a title insurer

The Louisiana State Legislature is considering legislation that would require any public records requestor be a Louisiana citizen.

Illinois Attorney General Kwame Raoul filed suit against MV Realty PBC LLC and MV Realty of Illinois LLC, as well as their corporate managers, for allegedly tricking financially strapped consumers into 40-year real estate brokerage contracts.

Washington Insurance Commissioner Mike Kreidler issued a technical assistance advisory to insurers on the use of artificial intelligence in their insurance practices.

U.S. Sens. Sherrod Brown (D-Ohio), chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and Jack Reed (D-Rhode Island), a senior member of the Senate Banking and Housing Committee, sent letters to the CEOs of the nation’s largest banks asking about their wire fraud protection policies.

Maryland Insurance Commissioner Kathleen Birrane issued industry Bulletin 24-11: The Use of Artificial Intelligence Systems in Insurance, which provides regulatory direction to insurance companies regarding their use of artificial intelligence.

Massachusetts Attorney General Andrea Joy Campbell issued an advisory to provide guidance to developers, suppliers, and users of artificial intelligence regarding their obligations under state consumer protection, anti-discrimination, and data security laws.

The Oklahoma Legislature passed legislation to direct title insurance producers or title insurers to provide certain requested document copies at no charge at a modified time frame. The bill awaits the governor’s signature.

A former Ohio attorney was sentenced to prison and ordered to pay restitution after pleading guilty to stealing from his clients. He used his title company to commit his offenses.

An entity that purchased property in Fort Worth, Texas, discovered after the sale that a company had a general utility easement on the property and planned to construct a pipeline on the property. The entity’s title insurer handled the claim, but the parties disputed how it should be handled and the entity filed suit.

Several Democratic Congress members wrote a letter to President Joe Biden, voicing their concerns with the Federal Housing Finance Agency’s title acceptance pilot program.

The Financial Crimes Enforcement Network renewed its Geographic Targeting Orders that require title insurers to identify the natural persons behind shell companies used in non-financed purchases of residential real estate.

FundingShield released Q1 2024 fraud analytics, noting that while there was a slight decline from Q4 2023, wire and title fraud risk remained concerningly high.

The Oklahoma Legislature passed legislation to provide that a title insurance company can not charge a fee for the filing of a release of mortgage affidavit. The bill awaits the governor’s signature.

Maryland Insurance Commissioner Kathleen Birrane announced her intent to resign effective June 30 and to return to private practice at DLA Piper, where she was a partner until appointed commissioner in May 2020.