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Payment processor settles $2.3 billion error with state AGs
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Consumer Protection, Nonbank Financial
Friday, October 27, 2023
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A
testing error by payment processor ACI Worldwide resulted in a $10 million
settlement with attorneys general from all 50 states. The error occurred in
April 2021, leading to the attempted unauthorized withdrawal of $2.3 billion
from 477,000 mortgage accounts across the country.
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