Fidelity National Financial Inc., the title insurer that called the industry an “oligopoly,” agreed to sell assets in Oregon and Michigan to settle a regulatory review into anticompetitive practices. The insurer’s 2008 purchase of bankrupt rival LandAmerica Financial Group Inc. reduced competition in five Oregon regions, including the Portland area, and in Detroit, the Federal Trade Commission said in a statement today. The settlement will require the Jacksonville, Florida-based insurer to sell assets including data used for underwriting in those regions.
Fidelity National settles FTC charges after touting ‘oligopoly’
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