ELIGIBLE Americans could claim up to $5,000 from a huge data breach settlement — and you may already qualify if you got this letter.
loanDepot has agreed to a $25million payout after failing to stop a cyberattack that hit millions of customers earlier this year.
GettyAmericans could claim up to $5,000 from a huge data breach settlement[/caption]The data breach exposed the personal information of 16.9 million people.
And you could be owed cash if you got a data breach notice from the company.
The breach reportedly happened between January 3 and January 5, 2024.
Alleged victims say loanDepot failed to put proper protections in place — and didn’t train staff well enough to prevent the hack.
The loanDepot data breach reportedly compromised sensitive information.
This included names, addresses, email addresses, financial account numbers, Social Security numbers, phone numbers and dates of birth.
loanDepot is an online mortgage lender.
It offers home loans, refinancing options and home equity products.
The firm hasn’t admitted any wrongdoing — but agreed to the multi-million dollar deal to settle the case.
According to the settlement, class members can get a cash payment between $5.30 and $70.71 — depending on how many people file.
Those living in California could get even more.
They may receive an extra payment under the California Consumer Privacy Act.
That bonus could range from $14.90 to $149.04 — depending on how many people claim.
Class members who had out-of-pocket losses due to the breach can also claim up to $5,000.
That covers documented expenses like fraud, ID replacement, credit freeze fees, and other unreimbursed costs.
And all class members can get two years of free credit monitoring or identity theft protection.
These services include enhanced fraud alerts and identity insurance.
loanDepot also agreed to improve its data security rules.
That includes better cloud protections, improved threat detection, and stronger employee training.
These changes are expected to cost the company around $9.34million.
Those who want to object or exclude themselves must do so by April 27, 2025.
And to receive any money or benefits, class members must file a valid claim form by May 27, 2025.
GettyThose eligible should submit a claim by May 27[/caption] Read More Details
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