Cinfed Credit Union Data Breach Settlement Approved by Court

Cinfed Federal Credit Union’s $700,000 data breach class action settlement received final approval from a federal court, though with less attorneys’ fees than class counsel requested.

The US District Court for the Southern District of Ohio said that awarding one fourth, rather than one third, of the common fund was appropriate considering the limited amount of work that led to the positive result for the class, which will able to apply for reimbursement. The final fee award was $175,000, down from $233,000.

• A cyberattack in September 2023 accessed Cinfed’s internal network, leading to “five very similar class action complaints,” Judge ...