Website launched for Equifax data breach settlement claims

July 14, 2020

A website has been launched for credit unions and other financial institution plaintiffs to file claims in the settlement reached in the Equifax data breach lawsuit. CUNA, Leagues and credit unions are among the plaintiffs in the lawsuit, which stems from a 2017 data breach that exposed the personal information of more than 145 million consumers.

The settlement, announced in June, 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.  

The Settlement Class will be limited to financial institutions that had alerted-on payment cards as a result of the breach. Class members will be permitted to make claims for losses attributable to the alerted-on payment cards as well as damages they suffered resulting from their customers’ personally identifiable information (PII) exposure.