After a data breach put their customers’ sensitive information at risk, a US bank will be handing out thousands to them.
American National Bank & Trust settled a lawsuit alleging that the lender failed to maintain or implement adequate security measures for customers’ personal information.
The newly-updated settlement portal will allow customers to receive as much as $4,500 in compensation for out-of pocket losses, including unreimbursed costs or fraud-resolution expenses.
All eligible members of the class receive a year’s credit monitoring from three bureaus, as well as $1,000,000 in insurance against identity theft.
In January last year, an unauthorised actor gained access to the network of the bank, gaining names, dates, births, social security numbers, tax identification number, numbers of driver’s licences and state ID cards, passports, information about financial accounts, information on payment cards, and medical data.
The bank will notify US citizens who are eligible. Claims must be submitted online by April 21, 2026 or via postmark.
The deadline for opt-outs and objections is March 23rd. A final hearing on approval will be held April 28th.
The bank denied wrongdoing, and said it reached a settlement to avoid an expensive and lengthy litigation process.
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As new information becomes available, this post Billion Dollar Bank Giving Up To $4500 To Customer After “Unauthorized Actor” Breaches Network and Steals Sensitive Data may change.
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