CFPB v. ACI Worldwide Corp. and ACI Payments Inc.

ACI Worldwide Corp. and ACI Payments Inc. allegedly improperly accessed and used sensitive consumer financial information for internal testing purposes and without employing appropriate information safety controls, according to CFPB. ACI allegedly caused erroneous bill payment orders to be sent to consumers’ banks for processing, according to CFPB. These actions initiated debits totaling approximately $2.3 billion in mortgage payments from nearly 500,000 borrower bank accounts without their knowledge or authorization, according to CFPB. ACI's actions allegedly violated the Electronic Fund Transfer Act and its implementing rule, Regulation E, as well as the Consumer Financial Protection Act of 2010’s prohibition of unfair acts and practices, according to CFPB.

Summary generated from official Consumer Financial Protection Bureau press release