Day: June 30, 2023

CFPB Fines ACI Worldwide $25M for Illegally Processing Mortgage Payments

In a first-of-its-kind enforcement action, the Consumer Financial Protection Bureau (CFPB) has ordered ACI Worldwide and one of its subsidiaries, ACI Payments, to pay a $25 million civil penalty for improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions. According to the CFPB, this is the first enforcement action Read More

PWC investigation

FRC Sanctions PwC, KPMG Over Audits of Eddie Stobart Logistics

The U.K. Financial Reporting Council (FRC) announced in separate actions that it has imposed sanctions against KPMG and PwC, each relating to statutory audits of the financial statements of Eddie Stobart Logistics. The FRC’s penalties, announced June 29, each included discounted fines. KPMG received a reduced sanction of 877,500 pounds Read More