Virginia receives share of settlement with ACI Worldwide
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The Office of Virginia Attorney General Jason Miyares recently announced that Virginia, along with a coalition of 49 other attorneys general, has reached a $10 million settlement with payment processor ACI Worldwide over a 2021 testing error.The error led to the attempted unauthorized withdrawal of $2.3 billion mortgage-holders’ accounts.
The erroneous test took place on April 23, 2021, as ACI was testing the Speedpay platform and mistakenly submitted live Mr. Cooper consumer data into the ACH system. As a result of the error, many consumers were subjected to the attempted withdrawal of multiple mortgage payments from their personal bank accounts. While the vast majority of withdrawals did not ultimately go through or were reversed, 1.4 million transactions were processed nationwide, impacting 477,000 Mr. Cooper customers.
Virginia will receive more than $247,000 from the settlement. Virginians impacted by ACI’s testing error and wishing to submit claim forms in connection with a related class action settlement must do so by Nov. 13. For details, visit https://achloanpaymentlitigation.com/.
