ATG and others in the industry have been working with the Illinois Department of Financial and Professional Regulation (IDFPR) to improve the amended disclosure form first promulgated by the IDFPR in early April 2018. The purpose of the form is to disclose to consumers the fees related to title and settlement services. ATG and others in the industry believe that the form fails to accomplish the state's objective and is flawed both technically and practically. Our goal has been to help the IDFPR develop a disclosure form that conforms to the state's statutory authority, ensures that consumers have access to legal counsel when engaging in a real estate transaction, and assists the state in accomplishing its objective of improving disclosure to consumers of fees related to title and settlement services when performed by a Producer of Title Business as defined by the Illinois Title Insurance Act.

While the most recent iteration of the disclosure form is an improvement over the original form, we have the following concerns with the current version of the form:

• contains provisions and requirements that we believe are beyond the authority granted to the IDFPR by the Illinois Title Insurance Act;
• could mislead or confuse consumers of title insurance services; and
• violates protections contained in the attorney-client relationship.

ATG hosted representatives of the Illinois Land Title Association and the Illinois Real Estate Lawyers Association for a meeting with representatives of the IDFPR on June 26, 2018, to express our remaining concerns. Because the implementation date is July 1, 2018, and we have been unable to persuade the IDFPR that it should further consider these important concerns, ATG filed suit for injunctive relief in Cook County court this afternoon. The hearing on ATG's motion will be heard tomorrow afternoon. Read ATG's verified complaint for injunctive and other relief.

We hope to have further information on the court's decision tomorrow. We will keep you updated as this situation develops.