Title industry under scrutiny again
GAO calls for sharper oversight, improved consumer protections
By Glenn Roberts Jr., Wednesday, April 18, 2007.Limited regulation, complicated business affiliations and an apparent lack of consumer protections have clouded title insurance industry operations, and regulators must step up oversight and enforcement to ensure cost competition and prevent illegal activities, a government report concludes.
"Given consumers' weak position in the title insurance market, regulatory efforts to ensure reasonable prices and deter illegal marketing activities are critical.
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