Financial Aid Update: ECMC Borrower Data Recovered, Officials Believe Data Was Not Compromised

Published: April 19, 2010

ECMC notified borrowers, partners and industry colleagues that law enforcement officials have recovered the data that was stolen from ECMC headquarters last month and that a suspect is in custody. Law enforcement officials do not believe the data has been compromised. Investigators with the Minnesota Financial Crimes Task Force (FCTF) and the Minneapolis Police Department recovered two stolen safes that contained CDs and floppy discs with personal information on more than three million federal student loan borrowers. Investigators say the safes were found in Minneapolis within 48 hours of the burglary.

“We will keep our call center open as long as needed to answer borrower questions, and we will continue to honor our commitment to provide free credit monitoring services through Experian to borrowers whose data was included in the theft,” wrote ECMC President and CEO Janice Hines in a letter notifying schools. “All impacted individuals have been sent a letter from ECMC with instructions on how to activate these protective services. All of us at ECMC are delighted by this news and hope that it provides some comfort to affected borrowers.”

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