FTC Approves Final Order Adding Requirements to 2014 Order to Remedy CoreLogic Inc.’s Compliance Deficiencies
Following a public comment period, the Federal Trade Commission has approved a modifying order against California-based real estate data and analytics company CoreLogic Inc., to address deficiencies in the company’s compliance with a 2014 order.
CoreLogic agreed to the 2014 order to resolve Commission concerns that the company’s acquisition of DataQuick Information Systems, Inc. would significantly reduce competition in the market for national bulk data, in violation of the federal antitrust laws. The bulk data that CoreLogic provides to customers includes national assessor and recorder data, which contains information regarding ownership, status and value of real estate properties.
The FTC alleges that CoreLogic did not provide all the required data and information by the deadlines in the order. Under the modified order, the Commission is requiring CoreLogic to provide bulk data to RealtyTrac until at least 2022, an additional three years beyond the term in the 2014 order.
Chairman Joe Simons stated: “It is critical that parties fulfill the obligations set forth in any Commission-issued order. The Commission will closely monitor CoreLogic’s compliance and will not hesitate to investigate any failure by CoreLogic to comply with the terms of this modified order.”
The Commission vote approving the modifying order was 5-0. (FTC File No. 131 0199; the staff contact is Susan Huber, Bureau of Competition, 202-326-3331.)
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Source: U.S. Federal Trade Commission, FTC.gov