On Monday the Consumer Financial Protection Bureau (CFPB) took action against Xerox Business Services, LLC, now called Conduent Business Services, for software errors that led to incorrect consumer information about more than one million borrowers being sent to credit reporting agencies. The Bureau says that company also failed to notify all of its auto lender clients about known flaws in its software that led to the errors. The consent order requires Xerox to pay a $1.1 million civil penalty, explain its mistakes to its lender clients, and fix its faulty software.
insideARM will be off for Thanksgiving tomorrow and on Friday. We are thankful for our readers and wish everyone a safe, healthy and happy holiday. Look out for the next issue of the insideARM insider on Monday.
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