Customers affected by a 2023 Union Bank and Trust Co. data breach have until July 21, 2026 to submit a claim for compensation from a nearly $2.4 million settlement.
Settlement Follows 2023 Data Breach
The settlement covers people whose personally identifiable information (PII) was included in files affected by a cyberattack between May 27 and May 31, 2023. The breach exposed sensitive information, including customers’ names, Social Security numbers and other personal details.
Plaintiffs alleged that the bank failed to use adequate cybersecurity measures to protect customer information. Union Bank and Trust Co. has denied any wrongdoing but agreed to settle the claims to resolve the legal dispute.
Eligible Customers Could Receive Up to $12,500
The settlement provides different payment options depending on the losses experienced by affected customers. People who suffered ordinary losses may claim up to $2,500. This can include compensation for expenses linked to the breach and up to four hours of lost time, valued at $25 per hour.
Customers who experienced documented extraordinary losses may claim up to $10,000 for eligible costs that were not reimbursed. These losses must have occurred between May 31, 2023, and the end of the claims period. Those who did not experience financial losses may still qualify for a $100 cash payment.
Free Credit Monitoring Included
All eligible class members can also receive two years of three-bureau credit monitoring and identity theft protection services. The service is designed to help affected customers monitor their personal information following the security incident.
The deadlines to object to the settlement or exclude themselves from the agreement passed on June 26, 2026.
Claim Deadline Is July 21
Eligible customers must submit a valid claim form by July 21, 2026 to receive settlement benefits. A final approval hearing is scheduled for August 6, 2026, where the court will review the settlement agreement.
Union Bank and Trust Co. provides banking, lending and investment services across multiple states, including personal accounts, commercial loans and financial planning services.
The case highlights the financial consequences companies can face after data breaches expose sensitive customer information and the importance for consumers of monitoring their personal details after a cyber incident.
