Attorney General Raoul Announces $10 Million Multistate Settlement With ACI Worldwide For Unauthorized Withdrawals From Mortgage Holders
CHICAGO - Attorney General Kwame Raoul announced that Illinois, along with 49 other attorneys general, has reached a bipartisan settlement with a subsidiary of payment processor ACI Worldwide Corporation (ACI) concerning a testing error that led to the attempted unauthorized withdrawal of $2.3 billion from the accounts of 477,000 mortgage holders. Under the settlement, ACI has agreed to take steps to avoid future incidents and pay a $10 million fine. Illinois will receive $519,501.61 from the settlement. “The settlement with ACI not only imposes a significant fine but also holes the financial company accountable so that consumers are protected in the future from erroneous charges,” Raoul said. “My office’s Consumer Protection Division will continue to protect consumers and hold accountable bad actors that do not responsibly handle Illinois residents’ hard-earned money.” The settlement resolves allegations ACI erroneously attempted to collect