The League of Southeastern Credit Unions (LSCU) and Affiliates announced Thursday it is joining CUNA’s lawsuit against Equifax as a plaintiff. CUNA filed its lawsuit Oct. 4, with several other institutions.
“The extent of this breach and potential effect on credit unions and their members is unprecedented,” said Patrick La Pine, president/CEO of the LSCU & Affiliates. “The League is joining this suit as a protection measure for our affiliated credit unions and to hold Equifax accountable for negligence and the damages that will ensue. Protecting members is a top priority of all credit unions. This massive breach has the potential for negative repercussions for many years to come. The costs to credit unions will be significant.”
LSCU has not been involved in data breach legal action before, but the league said after a breach that has exposed more than 145 million consumers’ personal information and more than 200,000 payment card numbers, the risk to credit unions and members called it to action.
“The compromised information in this incident includes consumers’ Social Security numbers, birthdays, addresses and drivers’ license numbers,” La Pine said. “That makes this breach more comprehensive than many previous breaches with the potential to incur much more damage to members and credit unions. It’s important that the League stands up for our credit unions’ rights.”
Since filing its suit, CUNA has engaged with both chambers of Congress with concerns about the breach’s effects. CUNA also hosted a members-only webinar on credit unions’ potential legal options in the wake of the breach.
The Illinois Credit Union League announced earlier this week it will join as a party plaintiff as well.