Flagstar Agrees to $31.5 Million Deal in Accellion-Breach Suit

Flagstar Bank NA agreed to pay $31.5 million to settle allegations it failed to protect the personal information of nearly 2.2 million people in data breaches linked to Accellion Inc.'s file-transfer software.

Class members would be eligible for up to $25,000 in documented monetary losses, three years of credit monitoring services, and a pro rata share of the net settlement fund, according to the plaintiffs’ motion for preliminary settlement approval filed Wednesday in the US District Court for the Eastern District of Michigan. Each member of a California subclass would also be eligible for a statutory payment of up to ...