Click Fraud Protection $1.55 Million Settlement in Credit Union Data Breach Class Action - Tycko & Zavareei LLP
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$1.55 Million Settlement in Credit Union Data Breach Class Action

Outcome: $1,550,000.00 Settlement

In re: ICCU Data Breach Litigation, Master Case No. CV03-20-00831 in the District Court of the Sixth Judicial District of the State of Idaho, in and for the County of Bannock

In a class action settlement, Idaho Central Credit Union (ICCU) reached an agreement with plaintiffs regarding two data breaches that were disclosed around February 6, 2020. These incidents had potentially compromised the personal information of both current and former ICCU customers. Tycko & Zavareei LLP was one of the consumer protection law firms appointed as class counsel in these consolidated data breach actions. After a mediated negotiation process, the settlement emerged with a comprehensive reimbursement scheme for those impacted by the breaches. Individuals identified within the settlement class, those who received a notification of the data breach around February 7, 2020, are eligible for various forms of compensation. This includes reimbursement for out-of-pocket losses, compensation for time spent addressing the breach’s repercussions, and credit monitoring services. The settlement fund is a substantial $1,550,000.00 non-reversionary sum.

The impact of the settlement is intended to offer significant relief to the affected class members by addressing financial vulnerabilities experienced due to the data breaches. ICCU has agreed to compensate for unreimbursed financial losses up to $1,000.00 for each person submitting a valid claim with supporting documentation. In cases of more severe monetary damage, including losses stemming from financial fraud or identity theft, compensation can go as high as $20,000.00 per class member under certain conditions. Furthermore, ICCU has committed to offering all settlement class members a full year of credit monitoring services at no charge. This includes daily Experian credit file monitoring, a $1 million identity theft insurance policy, and specialized identity restoration services, among other comprehensive features, aimed at securing the financial interests and peace of mind of those affected by the breaches.

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