Bank Handing $475,000 To Customers and Attorneys After ‘Unauthorized Actor’ Accesses Highly Sensitive Information

A US bank has agreed to pay hundreds of thousands of dollars to compensate its customers after their data fell into the hands of an unauthorized actor.

According to the settlement administrator’s portal, the Savannah, Georgia-based lender, First Chatham Bank, will pay $475,000 to end a class action lawsuit filed following a data breach that happened in September of 2024.

The breach happened when an unauthorized actor accessed First Chatham Bank’s computer systems and obtained confidential files bearing sensitive customer information.

“These files may have contained personal information such as names; addresses; dates of birth; driver’s license numbers; Social Security numbers; financial account numbers; and payment card information.”

The amount each victim of the data breach will be decided on a pro rata basis.

While each settlement class member who files a valid claim is expected to receive an estimated $100, the final figure could rise or fall depending on the number of victims who come forward.

The named plaintiffs in the data breach lawsuit against First Chatham Bank will also receive a service award.

Compensation claims must be submitted by June 3rd. A final approval hearing will be held on June 18th.

Despite agreeing to the settlement, First Chatham Bank denies any wrongdoing. A court of law has also not ruled either in favor of the defendant or the plaintiffs.

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