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CFPB Fines Xerox for Credit Reporting Errors
On Monday, November 20, 2017, the CFPB took action against Conduent Business Services, formerly Xerox Business Services, LLC. The Bureau claims company software errors allegedly led to the reporting of incorrect consumer information about more than one million borrowers. The CFPB also claims the company failed to notify its auto lending clients about known software flaws which caused the reporting errors. The CFPB ordered Conduent to pay a $1.1 million civil penalty, explain its errors to its auto lending clients, and fix the software errors.