In a case that could serve as a warning to other banks that contribute customer data to public storehouses, Citigroup has acknowledged that it failed to safeguard the personal information–Social Security numbers, birth dates and other sensitive data–of nearly 150,000 consumers who went into bankruptcy between 2007 and 2011.
The bank admitted that it didn’t properly redact court records put on the government’s legal document system, Pacer.
Citi settled with a division of the Justice Department, the U.S. Trustee Program, in a pact unsealed earlier last week in which it agreed to redact the customer information at its own expense; notify all the affected debtors and third parties; and offer a year of free credit monitoring.
Story by Sean Sposito for American Banker.
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