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The Federal Trade Commission filed an administrative complaint against the Louisiana Real Estate Appraisers Board, alleging that the group is unreasonably restraining price competition for appraisal services in Louisiana, contrary to federal antitrust law. The complaint alleged that the appraisal board’s regulations exceeded the scope of the mandate outlined in the Dodd-Frank Act that required appraisal management companies to pay “a rate that is customary and reasonable for appraisal services performed in the market area of the property being appraised.” Specifically, the board required appraisal fees to equal or exceed the median fees identified in survey reports commissioned and published by the board. The board then investigated and sanctioned companies that paid fees below the specified levels.
Shortly before the administrative trial was set to begin, the FTC and the board reached a proposed settlement agreement.
On April 5, 2022, the Commission announced the final consent agreement in this matter.
Louisiana Real Estate Appraisers Board Agrees to Settle FTC Charges that It Fixed Prices for Appraisal Services in Louisiana
Statement of Daniel Francis, Deputy Director of the FTC’s Bureau of Competition, Regarding the Announcement That the Parties Have Abandoned CoStar Group Inc.’s Acquisition of RentPath Holdings, Inc.
FTC Sues to Block CoStar Group, Inc.’s Proposed Acquisition of Chief Competitor RentPath Holdings, Inc.
FTC Approves Final Order Adding Requirements to 2014 Order to Remedy CoreLogic Inc.’s Compliance Deficiencies
FTC, Department of Justice to Hold Workshop on Competition in Residential Real Estate Brokerage Industry
FTC Announces Agenda for June 5 Workshop on Competition in Residential Real Estate Brokerage to Be Held Jointly with the Department of Justice
FTC Office and Bureau Directors Comment on State Legislative Proposal Affecting Compensation for North Carolina Real Estate Appraisers
FTC Commissioner Ohlhausen Testifies Before Senate Judiciary Subcommittee Regarding Occupational Licensing and the State Action Doctrine
Prepared Statement of the Federal Trade Commission: "License To Compete: Occupational Licensing and the State Action Doctrine," Before the Subcommittee On Antitrust, Competition Policy and Consumer Rights of the Committee on the Judiciary, US Senate
Statement of Commissioner Ohlhausen, Commissioner Wright, and Commissioner McSweeny Concerning Zillow, Inc/Trulia, Inc
To Settle FTC Charges, Professional Associations of Property Managers and Vocal Arts Teachers Agree to Eliminate Rules that Restrict Competition among Their Members
FTC Testifies on How Professional Licensing and Regulation Can Affect Competition Before House Committee on Small Business
Prepared Statement of the Federal Trade Commission On Competition and the Potential Costs and Benefits of Professional Licensure
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