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SPRINGFIELD – The Chronicle, the only locally owned hyper-local newspaper focused entirely on Springfield, Cottage Grove, Creswell, and Pleasant Hill, continues to expand its distribution footprint across the southern Willamette…
SPRINGFIELD – The Chronicle, the only locally owned hyper-local newspaper focused entirely on Springfield, Cottage Grove, Creswell, and Pleasant Hill, continues to expand its distribution footprint across the southern Willamette…
WILSONVILLE, Ore. – The Oregon Athletic Officials Association (OAOA) and the Oregon School Activities Association (OSAA) are recruiting officials for the high school spring sports seasons. Registration for new officials…
WILSONVILLE, Ore. – The Oregon Athletic Officials Association (OAOA) and the Oregon School Activities Association (OSAA) are recruiting officials for the high school spring sports seasons. Registration for new officials…
SPRINGFIELD – Senior & Disability Services is excited to partner with Menchie’s Frozen Yogurt in Springfield to host a fundraiser for its Senior Meals Program on Friday, Jan. 24. The…
SPRINGFIELD – Senior & Disability Services is excited to partner with Menchie’s Frozen Yogurt in Springfield to host a fundraiser for its Senior Meals Program on Friday, Jan. 24. The…
17 Jan 2025
In case you missed it…
Oregon Joins other state in levying $20M penalty against nation’s largest nonbank mortgage servicing company
Oregon was one of the financial regulatory agencies from 53 states and territories to take coordinated action against mortgage company Bayview Asset Management LLC and three of its affiliates, Lakeview Loan Servicing, Community Loan Servicing, and Pingora Holdings (collectively the Bayview Companies). The agencies took action against the companies for cybersecurity deficiencies and failure to cooperate fully with state regulators following a data breach that impacted 5.8 million customers nationwide, including more than 95,000 Oregonians.
The $20 million penalty and required corrective actions highlight the critical need to comply with state regulations protecting consumer data and addressing state supervisory requirements. State collaboration is crucial when addressing data breaches of this scale,” said TK Keen, Division of Financial Regulation (DFR) administrator.
State regulators in California, Maryland, North Carolina, and Washington state led the multistate effort, which found that Bayview Companies’ information technology and cybersecurity practices did not meet federal or state requirements. Furthermore, the Bayview Companies delayed the supervisory process by failing to comply with state requests in a timely and complete manner in the early stages of the examination.
In addition to the monetary penalty, the Bayview Companies have agreed to take specified corrective actions, improve cybersecurity programs, undergo independent assessments, and provide additional reporting to the states over the next three years.
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