Court approves final settlement in Equifax data breach suit

October 22, 2020

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).