On Saturday, the NY State Legislature approved the final budget. The enacted state budget will not include the title industry issues we were seeking.
Our concerns - and many other policy provisions - were part of a wave of issues that were excluded this year.
The budget bill was our "silver bullet" but by no means was it the only solution to the overreach and burdens of Regulation 208.
The Legislature is in recess for the next two weeks. We will use the remainder of the legislative session to seek passage of stand-alone bills to change the Insurance Law and avert the damage Regulation 208 will visit on consumers and the title industry.
NYSLTA is leading the effort to counter DFS Regulation 208.
NYSLTA is funding the effort to counter Regulation 208.
Our Article 78 litigation is proceeding in the Supreme Court of New York.
We will pursue legislation, building on the foundation we created.
Our hope to correct the missteps of DFS did not die with the signing of the budget.
The work continues.
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