@fify-- I don't really agree with you. Even if there was such an agency, it wouldn't be able to regulate escrow fees because there are just too many different types of escrow services and the fees vary for all of them.
I do think that there is a natural regulation in the system though. Since the activity of escrow businesses are very transparent and both parties to a transaction know about the fees, the businesses make sure to set fees at acceptable rates to their customers.
So I don't think that escrow businesses can overcharge their customers so easily.