The U.S. Federal Trade Commission announced Utah-based Vivint Smart Homes agreed to pay $20 million to settle allegations it violated the Fair Credit Reporting Act by misusing credit reports to approve financing for unqualified customers. The smart home security and monitoring company will pay a $15 million civil penalty and $5 million to compensate affected consumers. The FTC said the settlement is the largest to date for an FCRA case and requires the company to implement employee monitoring and training, as well as identity theft prevention programs.
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