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AG Ellison reaches settlement over $2.3B in attempted unauthorized withdrawals
KEYC News Now
ST. PAUL, Minn. (KEYC) - Minnesota Attorney General Keith Ellison reached a multibillion settlement over unauthorized withdrawals.
AG Ellison joined an alliance of 49 attorneys general in announcing an settlement with payment processor ACI Worldwide over a 2021 testing error that led to the attempted unauthorized withdrawal of $2.3 billion from the accounts of over 477,000 mortgage-holders.
As part of the settlement, ACI will pay $10 million to the states, including $119,718.60 to Minnesota.
On Apr. 23, 2021, ACI tested the Speedpay platform when it incorrectly gave live Mr. Cooper consumer data into the ACH system, resulting in ACI erroneously trying to withdraw mortgage payments from hundreds of thousands of Mr. Cooper customers on an unauthorized day.