ACI Hit With Fine for $2.3 Billion in Unauthorized Loan Payments

ACI Worldwide Inc. was fined by the Consumer Financial Protection Bureau for mishandling consumer data and improperly processing $2.3 billion in unauthorized mortgage payments.

A CFPB investigation showed that Coral Gables, Florida-based ACI used real consumer data instead of dummy data as it conducted tests of its electronic payment platform, Speedpay, on April 23, 2021, the bureau said in a statement Tuesday. The company then sent large files with data for customers of Mr. Cooper Group Inc. — one of ACI’s largest mortgage-servicing customers — into the Automated Clearing House, or ACH. The move exposed sensitive information for almost 500,000 ...