ALLENTOWN, Penn.–First Commonwealth Federal Credit Union (FCFCU) has agreed to a $1.2 million class action lawsuit settlement to resolve claims that it failed to prevent a data breach that compromised sensitive member information, according to a new report.
The settlement benefits individuals whose private information was compromised in the breach at the $1.4-billion First Commonwealth FCU data breach. The FCFCU data breach compromised PII that included names, Social Security numbers, financial data, driver’s license numbers and more.
First Commonwealth reported to the Attorney General of Maine that it had experienced a data breach two years ago, stating on June 27, 2024, that it had discovered suspicious activity on its network.
In the wake of the disclosure numerous lawsuits were filed.
No Admission of Wrongdoing
Now, according to TopClassActions.com, without admitting any wrongdoing, First Commonwealth has agreed to a $1.2 million settlement to resolve the data breach class action lawsuit.
Under the terms of the First Commonwealth Federal Credit Union settlement, class members can receive either a cash payment or a reimbursement for documented losses related to the data breach.
Class members who experienced documented losses as a result of the data breach can receive up to $5,000 in compensation. These losses must be documented through third-party documentation, such as receipts, emails, correspondence and more. Losses that have already been compensated by another source are not eligible for reimbursement, TopClassActions.com said.
Smaller Payments of $100
Class members who did not experience documented losses or who did not submit documentation with their claim can receive a smaller payment of $100.
All class members, regardless of whether they experienced documented losses, can receive three years of free credit monitoring through the settlement.
