First American Settles ‘No-Poach’ Allegations with New York AG

Key Takeaways:

– First American Financial Corp. has agreed to pay $4.5 million to the state of New York to resolve allegations of illegal “no-poach” agreements
– Similar settlements have been made with other title insurance underwriters
– The settlement was reached to resolve the investigation, and First American did not admit or deny the allegations
– The New York Attorney General’s Office has reached $13.75 million in settlements with seven title insurance companies
– The allegations against First American include verbal and written no-poach agreements with competitors
– No-poach agreements reduce competition for employees and can harm workers’ career opportunities
– New York’s crackdown on no-poach agreements in the title insurance industry was prompted by a previous agreement with fast food franchisors


No one can predict the future of real estate, but you can prepare. Find out what to prepare for and pick up the tools you’ll need at Virtual Inman Connect on Nov. 1-2, 2023. And don’t miss Inman Connect New York on Jan. 23-25, 2024, where AI, capital and more will be center stage. Bet big on the future and join us at Connect.

The nation’s second-largest title insurer, First American Financial Corp., has agreed to pay the state of New York $4.5 million to resolve allegations that it entered into illegal “no-poach” agreements with competitors not to recruit each other’s employees.

The settlement, announced Friday by New York Attorney General Letitia James, follows similar settlements with each of the other “big four” title insurance underwriters — Fidelity National Financial, Old Republic National Title Insurance Co. and Stewart Title Guaranty Corp.

Letitia James

“First American had secret agreements with competitors that harmed workers’ career opportunities and unfairly kept wages low,” James said in a statement. “New York workers should be empowered to grow within their chosen careers, not held back by illegal agreements meant to reduce opportunities for employees.”

First American — which last week reported $1.5 billion in third-quarter revenue from its title insurance and services business — neither admitted nor denied the allegations, agreeing to the settlement “for the purposes of resolving the [Office of the Attorney General’s] investigation only.”

All told the New York Attorney General’s Office has reached $13.75 million in settlements related to no-poach allegations with seven title insurance companies, including underwriter AmTrust Title Insurance Co. and title insurance agencies First Nationwide Title Agency and Kensington Vanguard National Land Services LLC.

In settling with First American, prosecutors with the attorney general’s antitrust bureau alleged that the company entered into verbal and written no-poach agreements with title agencies and other title insurance underwriters in violation of state and federal antitrust laws.

First American issues title insurance policies directly and through independent title agencies. Both “directs” and “agencies” compete for employees on the basis of salaries, benefits and career opportunities, prosecutors said.

“Directs and agencies have business models that heavily rely on employees’ business relationships,” prosecutors said. “Therefore, hiring and retaining top-performing employees is critical to the competitive significance of the directs and agencies.”

No-poach agreements, New York prosecutors said, “reduce competition for employees and can disrupt the normal compensation-setting mechanisms that apply in labor markets, to the detriment of the affected employees who may be deprived of competitively important information and access to better job opportunities.”

New York launched its crackdown on the title insurance industry’s hiring practices after joining with other states to reach an agreement in 2019 ending the use of “no-poach” agreements by four national fast food franchisors — Dunkin’, Arby’s, Five Guys and Little Caesars.

Get Inman’s Mortgage Brief Newsletter delivered right to your inbox. A weekly roundup of all the biggest news in the world of mortgages and closings delivered every Wednesday. Click here to subscribe.

Email Matt Carter

Source link

Property Chomp's Take:

is an essential element in web development and design. It is a tag used in HTML to create a division or a container for other HTML elements. It allows developers to group and organize different components of a webpage, making it easier to style and manipulate the content.


tag is versatile and can be used for various purposes. It can be used to create sections, columns, or even entire layouts within a webpage. By using multiple

tags and applying CSS styles, developers can create complex and visually appealing designs.

One of the key advantages of using

is its flexibility. It can be easily styled using CSS to change the appearance, position, and behavior of the elements within it. By assigning classes or IDs to

tags, developers can target specific elements and apply customized styles to them.

Another advantage of using

is its compatibility with different web browsers and devices. It is supported by all major browsers and can be used to create websites that are responsive and accessible on different devices, including desktops, tablets, and mobile phones.

In addition to its styling capabilities,

can also be used to handle dynamic content. It can be used in conjunction with JavaScript to create interactive features and functionalities on a webpage. By adding event listeners and manipulating the DOM (Document Object Model), developers can create dynamic and interactive user experiences.

Overall, the

tag is an essential tool for web developers and designers. It provides a flexible and versatile way to structure and organize the content of a webpage. Whether it's creating sections, columns, or layouts,

allows developers to easily manipulate and style the elements within it. With its compatibility and support for different devices and browsers,

is a fundamental element in modern web development.

Leave a Reply

Your email address will not be published. Required fields are marked *