The court has granted final approval to the settlement agreement reached in the Equifax data breach lawsuit, of which CUNA, Leagues and credit unions are plaintiffs. The deadline to file a claim is Dec. 31.
CUNA filed suit against Equifax in October 2017 after a data breach that exposed the personal information of more than 145 million consumers and 209,000 credit card numbers.
All information and forms required to make a claim are available on the settlement website.
The settlement provides up to $4.50 per alerted-on payment card as well as up to $5,000 per financial institution for its documented damages claim resulting from PII theft for class members. The total amount being offered for these two components is $5.5 million.
Equifax has also agreed to spend $25 million to enhance its data security measures and compliance with the Payment Card Industry Data Security Standard (PCI-DSS).