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CFPB takes action against mortgage payment processor
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Case Law, Consumer Protection
Friday, June 30, 2023
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The Consumer Financial Protection Bureau took enforcement action against ACI Worldwide and one of its subsidiaries, ACI Payments, for improperly initiating approximately $2.3 billion in unlawful, unauthorized mortgage payment transactions. The bureau further alleged ACI’s data handling practices negatively impacted nearly 500,000 homeowners with mortgages serviced by Mr. Cooper.
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