Need to fire the CTO and Interim CTO for this screwup. Clearly a problem with execution, who will be held accountable?
Mr. Cooper issued a statement late Tuesday saying its electronic payments vendor ACI Worldwide (ACIW -0.1%) "inadvertently issued incorrect mortgage payment drafts while conducting a test of their system."
From the CFPB:
“Unauthorized duplicate-payment drafts by Mr. Cooper appear to have resulted in hundreds of thousands of consumers’ bank accounts being debited for multiples of their mortgage payments. Affected consumers have reported being charged overdraft fees and likely suffered additional harm as a result of these unauthorized withdrawals.”
HUNDREDS OF THOUSANDS OF INCORRECT DEBITS