News By Edition

The Treasury Department’s Financial Crimes Enforcement Network issued three new FAQs on May 18 to clarify the status of its residential real estate transaction rule after a Texas federal court ruled it invalid and ordered a stay of enforcement.

Arizona Attorney General Kris Mayes filed a lawsuit to stop the wrongful foreclosure of a home involved in an equity stripping scheme. The defendants in the suit are accused of orchestrating a fake foreclosure that would prevent the attorney general from returning a disputed property to its rightful owner.

After falling victim to a fraud scheme, a financial company sued the closing firm involved in the transaction for failing to act with due caution and causing financial harm. A district court eventually ruled on whether the matter would go to trial.

The Small Business Competitions Assistance Evaluation Act of 2026 received unanimous support in a recent U.S. House vote. If implemented, the bill would direct the General Accountability Office to evaluate federal cybersecurity assistance to small businesses.

Lawmakers in Tennessee have introduced a bill titled the “Tennessee Real Estate Consumer Fraud Protection Act,” which aims to implement new safeguards to ensure real estate transactions taking place in the state are legitimate and verified.

New York State Department of Financial Services Acting Superintendent Kaitlin Asrow issued new guidance identifying cybersecurity measures that department-regulated entities should consider adopting when facing a heightened threat environment.

District of Columbia Attorney General Brian Schwalb reached a $1.255 million fund misuse judgment against the former executive director of the nonprofit H Street Community Development Corp.

Attendees at this year’s National Settlement Services Summit had the opportunity to bring comfort to Kansas City area children in the family court system through the annual “Make a Child Smile” community outreach event, sponsored by Qualia.

A bill introduced to the Tennessee legislature earlier this year would, if enacted, amend certain sections of state code governing access to and redaction of public records.

Directors of the National Insurance Producer Registry announced that CEO Karen Stakem Hornig will retire in June 2027, with Chief Product and Technology Officer Eric Saul set to succeed her as CEO.

The Connecticut Insurance Department issued a bulletin on May 15, warning consumers to be aware of the risk of insurance fraud and online scams.

Texas Attorney General Ken Paxton issued letters to more than 130 cities, prohibiting them from raising ad valorem taxes above the no-new-revenue tax rate implemented by SB 1851.

More than 40 speakers will take the stage over three days this week at the National Settlement Services Summit (NS3) at the Kansas City Marriott Downtown in Kansas City, Mo.

The California Department of Financial Protection and Innovation announced that San Francisco-based fintech Yotta Technologies will be required to pay a $1 million penalty for engaging in deceptive acts or practices.

A bill has been advanced through the Rhode Island legislature that would establish title fraud as a criminal offense in the state, while also setting restrictions on the electronic filing of real estate documents.

A bill proposing comprehensive reform to Colorado’s tax lien sales processes was sent to the desk of Gov. Jared Polis after passing both chambers of the state legislature.

A former Kings County Supreme Court justice and his accomplice were charged with wire fraud conspiracy at the federal courthouse in Brooklyn on May 13. The defendants face up to 20 years in prison if convicted.

Two homebuyers who fell victim to a wire fraud scam in 2020 were granted $1.2 million relief on April 7 when the Superior Court of California, County of San Diego filed a ruling declaring the escrow company to be at majority fault for the fraudulent transaction.

A Pennsylvania-based national mortgage services provider was sent a formal warning letter by Federal Trade Commission Chairman Andrew Ferguson asking the company to ensure compliance with laws banning noncompete agreements for employees.

A bill has been proposed in the New Jersey Assembly that would revise continuing education requirements for real estate licensees and continuing education providers.

Legislators in Colorado have advanced a bill that would update certain statutes governing the licensing of real estate brokers, as well as certain actions that can be taken by the state real estate commission.

Attributing the savings to his denial of “unjustified” rate increases, Montana Insurance Commissioner James Brown announced that more than $4 million has been saved for Montana customers so far this year.