Posted by CarolF/NC on 12/20/13 9:09pm
Msg #496801

How is Consumers Privacy being Protected Overseas?

http://www.motherjones.com/politics/2012/05/bank-of-america-outsourcing-call-center-philippines

and Fidelity Title offshores 80 plus % of their title work.

Isn't this what the CFPB should or is concerned about?

Reply by CarolF/NC on 12/20/13 9:31pm
Msg #496803

http://titlesearchblog.com/2011/08/22/future-consequences-of-offshore-title-searching/

This all just amazes me

Reply by BrendaTx on 12/20/13 9:51pm
Msg #496804

This has been going on for years.

I am not in favor of it because it is harmful to AMERICAN abstractors.

Exactly what consumer info is being shared overseas because of title searches?

I can do a title search right now from my living room using a free online index of deeds and other public records. I do not think that is a complete way to search a title, but it can be done.

The point is that the info is already available to those outsourced workers. It has been for years.

Reply by CarolF/NC on 12/20/13 9:59pm
Msg #496806

It is scary to me

that all of your personal information is sent overseas and companies are not required to comply with the same safeguards for protecting consumer information as they are in the US.

The whole Target incident has many of us thinking about how safe is our personal information. Several of my friends already have a huge mess a result of their card information being lifted at Target.

Brenda what happened to the days of having to have a hard copy of the title? Someone told me in NC they still do. It may be the law or regulation, but I'm most certain it is not happening.

Reply by BrendaTx on 12/21/13 5:58am
Msg #496825

Re: It is scary to me

Nevermind.

From title searches, to Target, to title searches. I can't follow your logic.

Reply by CarolF/NC on 12/22/13 7:37am
Msg #496884

My Point Brenda was that American Consumers are so

unaware of how the largest financial institutions fail to protect their personal information.

Without getting too political, I find it ironic that some SPW group wants to impose it's mostly arbitrary standards on notary signing agents in the interests of protecting consumers personal financial information. I'd like to see some statistics on how many consumers personal financial information was compromised by a state commissioned notary public.

http://www.keyt.com/news/money/Why-credit-hacks-will-keep-happening/-/17671998/23577934/-/geuamm/-/index.html

Reply by BrendaTx on 12/22/13 2:00pm
Msg #496906

Re: My Point Brenda was that American Consumers are so

Outsourced title searches --> Target consumers --> Title searches --> unaware American consumers --> SPW and arbitrary standards imposed on NSAs

If this was your point, perhaps you should have started with your point. I was discussing outsourced title searches.

Reply by CarolF/NC on 12/20/13 10:03pm
Msg #496808

Re: This has been going on for years.

I happened to have had dinner with some friends one of whom enlightened me about First American Title and their offshore operations and lack of compliance with US regulations. There were some very concerning stories.

3. Exposure of private information. When a title package is sent offshore for processing, it includes all of the personal information for buyer and seller. This could include names, addresses, social security numbers, drivers license copies and signatures. Even credit report copies. I don’t know who would have access to this information, but I am sure the laws and customs in other countries regarding the securing of personal information is different from those in the US. Identity theft is a legitimate concern for offshore processing of legal transactions such as real estate closings.

Reply by jba/fl on 12/21/13 1:12am
Msg #496821

Doesn't matter where you go in this world -

you will find wonderful people and crappy people. It is a crazy, chaotic world for sure.