NCB Management Would Pay $2.6 Million in Data-Breach Settlement

NCB Management Services Inc. agreed to pay $2.625 million to settle a lawsuit alleging it negligently failed to protect the personal information of more than 1.6 million Bank of America customers that was exposed in a 2023 data breach, under a proposed deal filed in federal court.

Members of the settlement class would be eligible for reimbursement of up to $2,500 for out-of-pocket losses arising from the breach or an alternative cash payment from the net settlement fund. The deal would also require NCB, a debt collector for financial institutions, to make significant changes aimed at improving data security, according ...