Consumer Bureau Action Tracker

CFPB – Meridian Title Corporation


State

Nationwide

target

Meridian Title Corporation

Topics

Mortgages, Enforcement

The CFPB ordered Meridian Title Corporation “to pay up to $1.25 million” for illegally steering thousands of “consumers to a title insurance company part-owned by three of its executives.” Meridian failed to disclose “its relationship with the company” owned by its executives.

  • “Indiana-based Meridian Title Corp has agreed to pay up to $1.25 million to resolve claims by the Consumer Financial Protection Bureau that it steered consumers to a title insurance company part-owned by three of its executives. In a consent order on Wednesday, the CFPB said Meridian violated the U.S. Real Estate Settlement Procedures Act (RESPA) by referring thousands of consumers to an affiliated business, Arsenal Insurance Corp, without disclosing its relationship with the company.” [Dena Aubin, “Meridian Title to pay $1.25 mln under CFPB consent order,Reuters, 09/27/17]

Status

Inactive or Resolved


2017-CFPB-0019 9/27/2017 9/27/2017

CFPB Takes Action Against Real Estate Settlement Services Provider for Steering Consumers to Affiliated Business
https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-real-estate-settlement-services-provider-steering-consumers-affiliated-business/

  • Consumer Financial Protection Bureau (CFPB)
  • Administrative filing
  • Nonbank
  • $1,250,000

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