Fidelity National Financial Penalized $3.5M For Alleged ‘No-Poach’ Agreements

Posted on by TMN Editor

By KIMBERLEY HAAS

Officials in New York say leaders at a top provider of title insurance for the real estate and mortgage industries will terminate “no-poach” agreements, pay the state $3.5 million, and cooperate with ongoing investigations in the industry.

New York Attorney General Letitia James announced the news on Wednesday. The settlement with Fidelity National Financial, Inc. is one of at least five cases James has pursued against title insurance companies as she works to stop “no-poach” agreements in the state.

“New Yorkers deserve fair pay for their hard work and experience in their fields, and their career growth should never be threatened by a company’s desire to save money on wages. My office will continue standing up for workers’ rights by stopping no-poach agreements and holding companies accountable for their bad actions,” James said in a statement.

Officials say “no-poach” agreements – which prevent the solicitation, recruitment, and hiring of employees – hurt workers and can disrupt the normal compensation-setting mechanisms that apply in labor markets.

“New York has always been a place for individuals to achieve their dreams, but when companies illegally collude to deny workers the opportunity to pursue better jobs, they hamper those dreams,” James said.

An assurance of discontinuance signed by Bryan Bloom, senior enforcement counsel for the antitrust bureau, and Peter Sadowski, executive vice president and chief legal officer for Fidelity, in addition to the $3.5 million penalty, Fidelity will provide a compliance program to the Office of the Attorney General within 30 days.

Fidelity is headquartered in Jacksonville, Fla.

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