Mortgage lender LoanDepot Inc. failed to protect the personal information of more than 16.6 million people that was exposed in a data breach announced in January, a proposed federal class action said.
LoanDepot didn’t encrypt borrowers’ sensitive information, properly monitor its computer systems, comply with US Federal Trade Commission guidelines and industry standards, and provide timely and adequate notice of the breach to those who were affected, according to the complaint filed Feb. 13, which follows 16 others that have been filed in the US District Court for the Central District of California against the company over the incident.
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