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Vivint Smart Home is on the hook for $20 million in penalties and restitution over the company's illegal use of customer credit information.

Deseret News Share this story Employees walk through the building during Vivint’s Innovation Center grand opening in Lehi on Oct. 21, 2014. On Thursday, the Federal Trade Commission announced it had reached a $20 million agreement with Vivint Smart Home over abuses of customer credit information. Jeffrey D. Allred, Deseret News Vivint Smart Home is on the hook for $20 million in penalties and restitution following a settlement announced Thursday with the Federal Trade Commission over the company’s illegal use of customer credit information. Under the settlement, Vivint will pay a $15 mill...

Sarbanes-Oxley Act (Sarbox, SOX) Purpose: Enacted in 2002, the Sarbanes-Oxley Act is designed to protect investors and the public by increasing the accuracy and reliability of corporate disclosures. It was enacted after the high-profile Enron and WorldCom financial scandals of the early 2000s. It is administered by the Securities and Exchange Commission, which publishes SOX rules and requirements defining audit requirements and the records businesses should store and for how long. To whom it applies: US public company boards, management and public accounting firms. Key points for CISOs: SOX p...