An American bank has agreed to pay hundreds of thousands of dollars in compensation to its customers after their data fell into the hands of an unauthorized actor.
According to to the portal administrator’s portal, Savannah, Georgia lender, First Chatham Bank, will pay $475,000 to settle a lawsuit filed following a data breach that occurred in September 2024.
The breach occurred when an unauthorized actor gained access to First Chatham Bank’s computer system and obtained confidential files containing customer information.
“These files may have contained personal information such as names; addresses; dates of birth; driver’s license numbers; Social Security numbers; financial account numbers; and payment card information.”
The severity of each victim’s data breach will be determined on a case-by-case basis.
Although each member of the permanent group who files a petition is expected to receive a $100 grant, the final amount can go up or down depending on the number of victims who come forward.
Plaintiffs named in the data breach lawsuit against First Chatham Bank will also receive a service award.
Payment requests must be submitted by June 3rd. The final official hearing will be held on June 18th.
Despite accepting the settlement, First Chatham Bank denies any wrongdoing. The trial court also did not rule in favor of the accused or the prosecution.
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