TitleMax Parent To Pay $12 Million to Settle Data Breach Claims

TMX Finance Corporate Services Inc. and TMX Finance LLC will pay $12 million in combined attorneys’ fees and recovery funds to resolve claims its inadequate security measures enabled a 2022 breach that exposed the personal data of 4.8 million individuals.

TMX’s systems were breached in December 2022, fueling a swath of lawsuits accusing the parent company of lending provider TitleMax of violating state consumer protection statutes. 22 cases were ultimately consolidated in Georgia federal court in July 2023.

The settlement agreement came after three-months of negotiation, the parties said. It requires TMX to pay up to $4.5 million to cover ...