Attorneys’ Title Guaranty Fund, Inc. (ATG) prevailed in its request for a stay of implementation against the Illinois Department of Financial and Professional Regulation (IDFPR). The judge granted ATG’s request for a stay of implementation of the revised DS-1 form until a hearing on the merits. He found particularly compelling ATG’s argument that attorneys should not be required to disclose their fees to third parties and that the IDFPR does not have the authority to regulate attorneys’ fees.
ATG believed the form, which is meant to disclose to consumers the fees related to title and settlement services, does not accomplish its intended objective, contains terms that are confusing to consumers, exceeds the regulator’s statutory authority, and shows serious bias against lawyer agents both in the disclosure form itself and in the instructions for completing it.
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