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Allegations by the Federal Trade Commission (FTC) against Texas-based Ascension Data & Analytics, LLC has resulted in the mortgage data analytics company’s requirement to install an enterprise-wide data security program, according to a press release issued by the FTC.
The case is the result of the commission’s discovery that a vendor of Ascension was not sufficiently protecting personal information for mortgage holders. Under the Gramm-Leach-Bliley Act’s Safeguards Rule, financial institutions are accountable for the actions of vendors, data security being critical to that oversight.