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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-08-04T16:10:00
ACI Worldwide is set to pay $20 million as part of a proposed settlement with states related to lax data handling and erroneous transactions that resulted in previous penalties against the company levied by the Consumer Financial Protection Bureau (CFPB).
In June, ACI was ordered to pay $25 million by the CFPB over improper data handling that led to approximately $2.3 billion in erroneous mortgage payment transactions.
In a quarterly filing Thursday, the company disclosed it reached agreements in principle with all 50 states, the District of Columbia, and certain U.S. territories to settle similar charges.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2023-06-28T16:01:00Z By Jeff Dale
The Consumer Financial Protection Bureau ordered ACI Worldwide to pay a $25 million fine for improper data handling that led to approximately $2.3 billion in erroneous mortgage payment transactions.
2023-03-16T17:06:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau is asking companies that “track and collect information on people’s personal lives” to provide information to the agency as it considers rulemaking under the Fair Credit Reporting Act.
2022-12-20T18:44:00Z By Aaron Nicodemus
Wells Fargo will pay a total of $3.7 billion to address “widespread mismanagement” of auto loans, mortgages, and deposit accounts as part of a settlement with the Consumer Financial Protection Bureau.
2024-07-24T17:54:00Z By Neil Hodge
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
2024-07-15T16:45:00Z By Jeff Dale
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
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