Unfair Competition Settlement

A title company is paying hundreds of thousands of dollars to California District Attorneys in an Unfair Competition Settlement.Ventura County Prosecutors started investigating Florida-based Fidelity National Financial two years ago after receiving a tip from a local competitor.They say the company had a real estate software system called Transaction Point that sweetened the deal by paying secret fees for title, escrow and other business referrals.Prosecutors from the consumer protection unit say the “kickbacks” started at 25 dollars and may have driven consumer prices up in the marketplace. Fidelity National agreed to pay nearly 900 thousand dollars in penalties without admitting wrongdoing to Ventura, Los Angeles, and San Diego County District Attorneys.The money will be fund more investigations like this one in Ventura County. Share your comments about this story with us on the KEY News Facebook page. Connect with KEY News on Twitter