A California mortgage broker will pay $120,000 to end Federal Trade Commission claims it breached federal rules when it posted personal details about consumers in response to negative Yelp reviews, according to a proposed settlement order.
Mortgage Solutions FCS, Inc. is prohibited from misleading consumers about its data security and privacy practices, under the proposed settlement. The company also can’t misuse credit reports and improperly disclose personal data to third parties, under the proposed order.
The settlement shows the risk businesses face in handling consumer financial information. Failure to protect data can lead to regulatory actions and civil penalties. ...
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