Superior Mortgage Corp., a lender with 40 branch offices in 10 states and multiple Web sites, has agreed to settle Federal Trade Commission charges that it violated federal law by failing to provide reasonable security for sensitive customer data and falsely claiming that it encrypted data submitted online, the FTC announced yesterday.
The settlement bars future deceptive claims and requires the company to establish data security procedures that will be reviewed by independent third-party auditors for 10 years, according to the FTC.
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