Money Transmission Instruction Error definition

Money Transmission Instruction Error means the incident that occurred on or around April 23, 2021, in which ACI impermissibly initiated 1,432,821 ACH debit and credit transactions impacting 478,568 customer borrowers of a mortgage company with a total dollar value of $2,389,173,559.05.
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Money Transmission Instruction Error means the incident that occurred on or around April 23, 2021, in which ACI impermissibly initiated 1,432,821 ACH debit 4 All definitions shall equally apply to any plural or possessive forms of the defined term.and credit transactions impacting 478,568 customer borrowers of a mortgage company with a total dollar value of $2,389,173,559.05.
Sample 1Sample 2
Money Transmission Instruction Error means the incident that occurred on or around April 23, 2021, in which ACI impermissibly initiated 1,432,821 ACH debit
Sample 1

Examples of Money Transmission Instruction Error in a sentence

  • Shortly after ACI became aware of the Money Transmission Instruction Error, ACI investigated all its server settings and prevented communications between all applicable production and testing/quality assurance servers.

  • This Assurance is not intended for use by any third-party in any other proceeding and is not intended, and should not be construed as, an admission of any wrongdoing or liability by ACI related to the Money Transmission Instruction Error.

  • Some consumers impacted by the Money Transmission Instruction Error received excess credits to their accounts from ACI’s funds, which were deposited as part of the process of reversing the erroneous debits.

  • By entering into this Assurance, ACI certifies that all known Consumer financial harm arising out of the Money Transmission Instruction Error has been compensated or remediated.

  • ACI became aware of the Money Transmission Instruction Error the morning of the day following the submission of the erroneous files, a Saturday, and took immediate steps with the intent to reverse the erroneous debits and credits and to minimize the impact of the Money Transmission Instruction Error on consumers.

  • The State Money Transmission Regulators determined that the Money Transmission Instruction Error was possible due to significant defects in ACI’s privacy and data security procedures and technical infrastructure related to the Speedpay platform.

  • Although the full indirect consumer impact is undetermined as of the Effective Date of this Assurance, approximately 2,710 consumers reported to the Mortgage Company that they experienced financial harm as a result of the Money Transmission Instruction Error.

  • Upon full payment of the amounts due under Section VII of this Assurance, the Participating Attorneys General shall hereby release and forever discharge ACI and its past and present officers, directors, and employees, from all civil claims that the Participating Attorneys General could have brought under the Consumer Statutes or 12 U.S.C. § 5536(a)(1)(B) based on ACI’s conduct related to the Money Transmission Instruction Error.

  • XXX became aware of the Money Transmission Instruction Error the morning of the day following the submission of the erroneous files and took immediate steps with the intent to reverse the erroneous debits and credits to minimize the impact of Money Transmission Instruction Error on consumers and to ensure a similar incident could not occur in the future.

  • Although the full indirect consumer impact is undetermined as of the Effective Date of this Agreement, the Multi-State Investigation identified approximately 2,710 consumers that reported to the Mortgage Company that they had experienced financial harm as a result of the Money Transmission Instruction Error.

Related to Money Transmission Instruction Error

  • Transfer Instructions are the information that you provide when using the Service. “Us,” “We,” and “Our” means Credit Union.

  • Transmission Injection Rights means Capacity Transmission Injection Rights and Energy Transmission Injection Rights. Transmission Interconnection Customer:

  • RBC instructions means the RBC report, including risk-based capital instructions adopted by the NAIC, as the RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC.

  • Merchant Transmission Provider means an Interconnection Customer that (1) owns, controls, or controls the rights to use the transmission capability of, Merchant D.C. Transmission Facilities and/or Controllable A.C. Merchant Transmission Facilities that connect the Transmission System with another control area, (2) has elected to receive Transmission Injection Rights and Transmission Withdrawal Rights associated with such facility pursuant to Tariff, Part IV, section 36, and (3) makes (or will make) the transmission capability of such facilities available for use by third parties under terms and conditions approved by the Commission and stated in the Tariff, consistent with Tariff, Part IV, section 38. Metering Equipment:

  • Alternative modes of instruction means modes of pupil instruction, other than in-person instruction, that may include, without limitation, partnerships with other districts or intermediate districts or community colleges or institutions of higher education, use of vendors, use of online learning, telephone communications, email, virtual instruction, videos, slideshows, project-based learning, use of instructional packets, or a hybrid of multiple modes of learning that still promote recommended practices for social distancing to mitigate the spread of COVID-CD.

  • Synchronous instruction means instruction where students engage in learning in the direct presence (remote or in-person) of a teacher in real time.

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • Transmission Provider means any entity or entities transmitting or transporting the Product on behalf of Seller or Buyer to or from the Delivery Point.

  • Network Transmission Service means transmission service provided pursuant to the rates, terms and conditions set forth in Tariff, Part III, or transmission service comparable to such service that is provided to a Load Serving Entity that is also a Transmission Owner.

  • Written Instructions means (i) written communications actually received by the Custodian and signed by an Authorized Person, (ii) communications by facsimile or Internet electronic e-mail or any other such system from one or more persons reasonably believed by the Custodian to be an Authorized Person.