A settlement in the case stemming from a 2014 data breach at Home Depot is likely to be proposed very soon, according to CUNA counsel. The settlement is not public yet, and will be subject to approval by the class representatives.
The proposed settlement terms are confidential, and several provisions are still being negotiated. The court has ordered that the settlement be finalized and papers filed no later than March 8.
CUNA is a plaintiff in a class action complaint, along with credit unions, credit union associations and other financial institutions around the country, against Home Depot that seeks recovery and injunctive relief associated with the Atlanta-based company’s massive 2014 data breach.
Home Depot has acknowledged that 56 million credit and debit cards were compromised as the result of the breach.