LoanDepot Resolves Data Breach Class Suit Affecting 17 Million

LoanDepot Inc.'s settlement to resolve allegations it negligently failed to protect nearly 17 million people from a data breach received a federal California court’s final approval.

On top of paying $25 million as recompense, the mortgage lender will pay for financial monitoring and improve its security practices, according to court documents filed to the US District Court for the Central District of California docket Wednesday.

• Judge David O. Carter estimated that the total settlement value, when including the monitoring and security upgrades, was over $42 million
• Around 250 people elected to opt-out of the settlement agreement, according to court filings ...