Compass Investments

A New York bank has reached a settlement in a class-action lawsuit seeking several million dollars over past data breaches.

Flagstar Bank settled a $31.5 million dispute related to two incidents in 2021, when the personal information of more than 2 million customers was exposed, including approximately 364,000 residents of California.

The settlement addresses claims that the lender failed to provide adequate protection during the incidents in January and December 2021.

Class members may be eligible for compensation for documented losses of up to $25,000; claims will be accepted through August 2026.

This settlement includes support for affected individuals whose data was compromised several years earlier, including potential cash payments and credit monitoring. LINE_BREAK The settlement was reached following preliminary approval by a federal court in Michigan.

Flagstar Bank has approximately 340 branches in nine states, with a significant presence in the New York and New Jersey areas, the northern Midwestincluding Michigan, Florida, and the Pacific Coast.”,”detected_source_language”:”RU