The Federal Trade Commission (FTC) announced that Ascension Data & Analytics agreed to settle its complaint alleging that the firm failed to ensure that its vendors have adequate consumer data protection.
Ascension Data & Analytics is based in Texas. Its business is focused on providing data analytics to the mortgage industry.
Under the proposed settlement, Ascension Data & Analytics agreed to undergo biennial assessments of the effectiveness of its data security program by an independent organization.
The mortgage industry data analytics provider also agreed to require its senior executive to certify every year that it is complying with the order. It also agreed to report to the FTC any future data breaches within 10 days of notifying other federal or state government agencies.
Allegations against Ascension Data & Analytics
In its complaint, the FTC alleged that the mortgage industry data analytics firm violated the Gramm-Leach Bliley Act’s Safeguards Rule.
Ascension Data & Analytics allegedly failed to follow the Rules’ requirement or financial institutions, which is to develop, implement, and maintain a comprehensive information security program.
