Judge Gavel Court

Maryland reaches multistate $20 million settlement with mortgage servicing company over data breach

Posted on by Chris Montcalmo

BALTIMORE, MD—Bayview Asset Management, LLC, a mortgage company, and three of its affiliates have agreed to a $20 million settlement with 53 state regulators following a 2021 data breach that affected 5.8 million customers nationwide, including 124,000 in Maryland. The settlement, announced by the Maryland Department of Labor’s Office of Financial Regulation, addresses deficient cybersecurity practices and compliance failures by […]

Continue Reading
Cybersecurity

Maryland bolsters cybersecurity with new monitoring service

Posted on by Chris Montcalmo

BALTIMORE, MD—The Maryland Department of Labor’s Office of Financial Regulation on Wednesday announced the implementation of SecurityScorecard, a cybersecurity monitoring service, to bolster its supervision of Maryland financial institutions. This move underscores the Office’s commitment to consumer protection in the face of evolving cyberthreats. SecurityScorecard will provide continuous, real-time monitoring of cybersecurity risks for state-regulated banks, credit unions, and other […]

Continue Reading
Real Estate Mortgage Housing Home Buying

Maryland settles with ACI Worldwide for unauthorized mortgage transactions from customer accounts

Posted on by Chris Montcalmo

BALTIMORE, MD—The Maryland Department of Labor along with 43 state agencies across the nation have announced a legal settlement with ACI Worldwide for erroneously initiating electronic transactions for mortgage loans serviced by Mr. Cooper (formerly known as Nationstar Mortgage, LLC) from the accounts of 480,000 consumers throughout the United States. “We want all Maryland businesses and residents to understand the […]

Continue Reading