This Organization Was Forced to Notify More Than 800,000 Borrowers

question 52

Multiple Choice

This organization was forced to notify more than 800,000 borrowers that a software installation error had resulted in a miscalculation of their loans and that their payments would increase.

• A) Sallie Mae
• B) Freddie Mac
• C) AIG
• D) Bank of America

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Definitions:

Shorter Time Period

A compressed or reduced duration in comparison to a standard or expected timeframe.

Breached Contract

A situation where one party fails to fulfill their obligations under a contract, resulting in a violation of the agreement.

Uniform Commercial Code

A collection of statutes that establish the legal framework for conducting business or commercial activities within the United States.

Lawsuit

A legal action brought by one party against another in a court of law for the resolution of a dispute.