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CFPB orders title company to pay $30,000 for illegal mortgage referrals
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Regulatory Updates
Friday, June 13, 2014
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The Consumer Financial Protection Bureau (CFPB) ordered a New Jersey company, Stonebridge Title Services Inc., to pay $30,000 for paying illegal kickbacks for referrals.
“Kickbacks drive up the costs of getting a mortgage and put law-abiding companies at a disadvantage,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action against companies that seek to attract consumers through illegal schemes.”
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