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3 banking agencies fine Fidelity National Financial unit $65M

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3 banking agencies fine Fidelity National Financial unit $65M

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency have imposed a fine of $65 million on Fidelity National Financial Inc. unit ServiceLink Holdings LLC for improper actions by its predecessor company, Lender Processing Services Inc.

Lender Processing Services and its employees engaged in "unsafe" practices that resulted in significant deficiencies in the foreclosure-related services provided to mortgage servicers, the agencies said in a joint statement.

Fidelity National Financial acquired Lender Processing Services and then reorganized the businesses in 2014, forming what is now Black Knight Financial Services.