Bulletin: SLS2015004

Date:
February 12, 2015
To:
All Issuing Offices
RE:
GENERAL - Consumer Financial Protection Bureau Consent Orders

Dear Associates:

We strongly encourage you to carefully review all Consumer Financial Protection Bureau (Bureau) Consent Orders and consult with your appropriate advisors. Consumers who received restitution under a Bureau Consent Order have filed class action litigation based upon alleged violations. While the ultimate resolution of private actions is unclear, there are substantial ongoing risks for business with regard to compliance-related issues. You can find the Bureau’s Consent Orders and the latest information on the work of the Bureau at http://www.consumerfinance.gov/newsroom.  

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
SLS2014008 GENERAL - Stonebridge Title Services, Inc. Consent Order
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None