FTC: Real Estate Firm Tossed Financial Records in Dumpster
A real estate title company that allegedly promised consumers it maintained “physical, electronic and procedural safeguards” of their personal financial information, but tossed their home loan applications in an open dumpster, has agreed to settle Federal Trade Commission charges that its procedures for handling this information violated federal laws.
The settlement with Nations Title Agency, Inc., Nations Holding Co. and Christopher M. Likens bars deceptive claims about privacy and security policies and requires that they implement a comprehensive information security program and obtain audits by an independent security professional every other year for 20 years. NHC, Kansas City, KS, is a privately held holding company that provides real estate services in 44 states. Its subsidiary, NTA, provides a variety of home financing services. Likens is the president and sole owner of NHC and its subsidiaries.
According to the FTC
