$20 Million Fine Against Bayview Asset Management for Cybersecurity Failures Impacting 5.8 Million Customers

Thu, 16 Apr 2026 22:05:10 +0000
Financial Services

The Florida Office of Financial Regulation and 52 state financial regulatory agencies announced a $20 million enforcement action against Bayview Asset Management LLC and affiliates Lakeview Loan Servicing, Community Loan Servicing, and Pingora Holdings for deficient cybersecurity practices and failure to cooperate with state regulators following a data breach affecting 5.8 million customers. In addition to the monetary penalty, the Bayview companies must implement corrective actions, enhance cybersecurity programs, undergo independent assessments, and provide three years of additional reporting to state regulators.