In October 2013, the CFPB sued Borders & Borders, a law firm, for allegedly “violating federal real estate law by paying local real estate and mortgage companies to send business its way.” Between 2006 and 2009 the law firm is purported to have had “nine title companies that collected fees from borrowers for title and settlement services, then split profits with referring agents and brokers.” The title companies had no office space and were run by a single law firm employee.

• In October 2013, the CFPB filed a lawsuit against Borders & Borders, PLC; Harry Borders; John Borders, Jr.; and J. David Borders in US District Court, Western District of Kentucky Louisville Division. [CFPB v. Borders & Borders, PLC; Harry Borders; John Borders, Jr.; and J. David Borders , case no. 3:13-cv-1047-H, filed 10/24/13]

• The CFPB sued Borders & Borders, a Louisville law firm, for allegedly “violating federal real estate law by paying local real estate and mortgage companies to send business its way.” Between 2006 and 2009, the law firm allegedly had “nine title companies that collected fees from borrowers for title and settlement services, then split profits with referring agents and brokers.” The nine title companies allegedly had no office space and were run by a single law firm employee. The suit alleges that Borders & Borders violated the Real Estate Settlement Procedures Act and the CFPB claimed that the nine companies “did not perform substantive title work” but rather that the law firm staff “conducted title searches, reviewed eligibility for title insurance, resolved problems to proceed with clear title and conducted the closing.” [Jere Downs, “US sues KY. law firm over real estate business deals,” The Courier-Journal, 10/25/13]

• The CFPB’s lawsuit “seeks a refund of any illegal profits, with interest.” As of February 2017, the case was ongoing. [Jere Downs, “US sues KY. law firm over real estate business deals,” The Courier-Journal, 10/25/13 and Enforcement Actions, “Borders & Borders, PLC; Harry Borders; John Borders, Jr.; and J. David Borders,” Consumer Financial Protection Bureau, accessed 2/17/17]