As a result of the data breach, lawsuits were filed against Webster Bank, Guardian Analytics Inc, and Actimize, Inc for failing to protect customer data. All three parties agreed to a settlement with payments to those affected by the breach.
How much can I receive from Webster Bank payments?
A settlement of $1,430,207.50 has been agreed upon, with the amount each customer receiving depends on how severely affected by the breach. The dividends are as follows.
- Customers are compensated for up to 4 hours at $25 per hour for the time they spend addressing issues resulting from a data breach.
- Up to $250 in “out-of-pocket costs” incurred as a result of a data incident. These are defined as phone charges, gas charges, postage charges, credit report charges, data charges, bank charges, etc.
- Up to $5,000 as a result of data incidents, credit monitoring, or identity theft or fraud incurred as a result of identity theft insurance purchased between November 27, 2022 and April 24, 2024. “Out-of-pocket costs.”
- Customers who do not choose Alternative Cash Payments (details below) will receive 24 months of free credit monitoring services.
Those who do not file a claim for unpaid losses or lost time may instead file a claim to receive a pro-rata cash payment from the Settlement Fund. This payment option has two tiers and details can be found on the official payment site.