Among the notable points in a recent consent order issued by the Consumer Financial Protection Bureau (CFPB) against a settlement services provider are the bureau’s directions ordering the company to go beyond paying restitution and updating its policies and procedures.
As part of the CFPB’s consent order requiring Meridian Title Corporation to establish and implement an adequate compliance management system, the bureau stipulated that the company must ensure that its technology is reasonably designed to facilitate that requirement.
Read on to learn more about the specifics of what the CFPB ordered the company to do.