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IDFPR Settles with ACI Payments, Inc. for Unauthorized Withdrawals from Mr. Cooper Customer Accounts

News Release – Tuesday, October 17, 2023

State regulators and state attorneys general levy combined fines of $20 million for data misuse impacting 480,000 consumers nationwide

CHICAGO – The Illinois Department of Financial and Professional Regulation (“IDFPR”) and 43 other state agencies have reached settlements with ACI Payments, Inc., for erroneously initiating electronic withdrawals totaling $2.3 billion from the accounts of 480,000 mortgage-holders serviced by Mr. Cooper (formerly known as Nationstar Mortgage, LLC). State regulators levied $10 million in fines while forcing the company to settle through a multistate enforcement action led by regulators from Arkansas, Connecticut, Maryland and Texas with support from the Conference of State Bank Supervisors. Additionally, 50 state attorneys general, including Illinois Attorney General Kwame Raoul, levied $10 million in fines to ACI, in coordination with state regulators.

To view the entire press release please click here.