LendingTree Sues over Data Breach

Two former Vice Presidents of LendingTree are alleged to have stolen customer passwords which subsequently allowed up to 5 home loan lenders to gain unauthorized access to sensitive consumer information which could be used for identity theft. According to the LA Times article concerning Monday's lawsuit filing by LendingTree: Named as defendants in the lawsuit are Newport Lending Corp., related company Southern California Marketing, Sage Credit Co., Chapman Capital Inc. and Home Loan Consultants. LendingTree accuses the firms of computer fraud and of using consumer records -- including Social Security numbers and income and employment information -- to offer loans to its customers. As a result, LendingTree was forced to send out letters recently to its customers alerting them to the potential for identity theft. Those effected submitted loan-qualification data between October 2006 and early this year. While it was not disclosed exactly how many consumers would receive the warning letters from LendingTree, the number could reach into the millions as the firm has processed over 23 million loan applications since 1998 according to the LA Times . Even LendingTree, on their company website , warns consumers of the inevitable unsecure nature of data and the need to take proactive steps to protect it: "...although we take steps to secure your information, we do not promise, and you should not expect, that your personal information, searches, or other communications will always remain secure. Users should also take care with how they handle and disclose their personal information." So, our tip for today is for any consumers who have utilized LendingTree's on-line loan application process during the period of October, 2006 through March of this year. Contact LendingTree immediately if you suspect your personal data has been part of the group which was compromised during this time period. LendingTree can be reached toll free at 1-800-555-TREE Contact Us Form Company Chat Agent Finally, please let a friend or associate know of this important development in the war against identity theft and unauthorized access to sensitive personal information. This article may be published in it's entirety on your site. Article courtesy of

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LendingTree Sues over Data Breach is an episode from Identity Theft Secrets.

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This episode was published on May 7, 2008.

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