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Violation Tracker Individual Record

Company: ACI Worldwide
Penalty: $25,000,000
Year: 2023
Date: June 27, 2023
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: The Consumer Financial Protection Bureau issued an order against ACI Worldwide and one of its subsidiaries, ACI Payments, for improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions. ACI's data handling practices negatively impacted nearly 500,000 homeowners with mortgages serviced by Mr. Cooper (formerly known as Nationstar). The CFPB alleged that ACI opened homeowners to overdraft and insufficient funds fees from their financial institutions. Thes order requires ACI, among other things, to pay a $25 million civil money penalty.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.