In the News
On January 15, 2019, the Appellate Division issued an Order which, amongst other items, affirmed the lower Court’s striking of those provisions of the Department of Financial Services’ Regulations,11 NYCRR 228.5(d); banning (i) all title closers from accepting gratuities for services rendered, and (ii) in-house title closers from collecting fees for certain services rendered. In that regard, the Appellate Division found that the Department of Financial Services failed to set forth a rational basis for drawing a distinction between independent and in-house title closers.
At the same time, however, the Appellate Division modified the lower Court’s Order to the extent of reinstating the majority of the Regulations and remanding the matter back to the lower Court for further proceedings on certain items, but not those provisions of the Regulations relating to compensation paid to title closers.
12.19.17
No tips, please: Title closers say gratuities ban will cripple them
3.23.18