Bill Seeks To Have NYDFS Regulate Title Insurance Agents

Law360, New York (August 9, 2013, 3:22 PM EDT) -- State Senate Republican James Seward on Wednesday revived an effort to give the New York State Department of Financial Services regulatory power over title insurance agents, introducing a bill to require disclosure statements and give the agency power to fine or ban fraudulent actors.

The measure notes that, while New York currently allows people to act as agents, state law does not regulate or license them despite the fact that they frequently handle large sums of money and engage in normally regulated activity including handling premiums,...
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