Americans Can Get Up to $12,500 Payment From $2.39M Union Bank and Trust Settlement, But You Need to Act Fast

A $2.39 million class-action lawsuit could put extra cash in your pocket. Union Bank and Trust Co. agreed to settle a class-action lawsuit alleging the bank didn't adequately protect customers' personal information during a 2023 data breach. Now, eligible individuals may file a claim, but the deadline is approaching.

Here's what to know about whether you may be eligible, how to file a claim, and how much money you might receive.

About the lawsuit

The lawsuit centers around a MOVEit file transfer system data breach that occurred between May 27 and May 31, 2023. During the data breach, customers' names, Social Security numbers, and other personal information were stolen.

The lawsuit alleges that Union Bank and Trust Co. failed to adequately protect customers and that implementing reasonable cybersecurity safeguards could have prevented the incident.

The bank denied wrongdoing but agreed to the $2.39 million settlement.

Who may be eligible

You may be eligible if your personal information was affected by the data breach and you received notice about the breach. Customers and individuals whose information was contained in the affected files may be eligible to file a claim.

Several compensation categories are available.

Ordinary loss

Individuals claiming an ordinary loss may receive up to $2,500 to cover expenses related to the breach. Those expenses might include out-of-pocket costs, credit-related expenses, and communication expenses. Individuals may also claim up to four hours of lost time at a reimbursement rate of $25 per hour.

To qualify, a loss must have occurred between May 31, 2023, and July 21, 2026. Claimants may receive up to $2,500 or an alternative cash payment of $100.

Extraordinary losses

Individuals who had a documented financial hardship resulting from the data breach may qualify to receive additional reimbursement up to $10,000. The reimbursement may help cover expenses like identity theft losses, fraudulent financial transactions, professional fees that the individual paid that are directly connected to the data breach, and other unreimbursed expenses connected to the breach.

Qualifying losses must have occurred between May 31, 2023, and July 21, 2026.

The maximum payment amount

If an individual qualifies for ordinary and extraordinary losses, they may receive up to $12,500 in total compensation.

Several factors may impact the total compensation, including the number of approved claims submitted and the documentation that you submit.

Credit monitoring

As part of the settlement, all class members may receive two years of credit monitoring, identity theft protection services, and fraud detection and monitoring tools. Individuals may receive these benefits even if they didn't experience a financial loss as a result of the data breach.

How to file a claim

The deadline to file a claim is July 21, 2026. Whether you're filing an ordinary loss or an extraordinary loss claim, it's important to gather documentation that supports your loss. That documentation might include bank statements, credit card statements, fraud reports, receipts for expenses directly related to the data breach, and records that document the time you spent addressing issues related to the breach. Being able to provide such documentation may increase the chances of your claim being approved.

You may submit a form through the settlement website, UBTDataSettlement.com, using the Claimant ID and password from the notice you received. Alternatively, you may download a claim form and mail it. If you mail your claim, it must be postmarked by July 21, 2026.

Next steps

All claims must be submitted by July 21, 2026, and a final hearing for the settlement is scheduled for August 6, 2026. During the hearing, the court is going to decide whether to approve the settlement.

If you want to maintain your right to file your own lawsuit, you must exclude yourself from the settlement. Requests to opt out must have been postmarked by June 22, 2026.

Watch out for settlement scams

Scammers sometimes try to take advantage of class-action lawsuits, posing as attorneys and claims administrators to trick victims into paying administrative fees. Some scammers send emails that look like settlement notices but contain links that infect their devices with malware that steals personal information.

Watch out for common red flags that might indicate the correspondence you've received is a scam. A request for a Social Security number or bank account information is suspicious. You shouldn't have to pay any sort of filing fee, processing fee, or upfront payment to receive a payment from a settlement.

Bottom line

If you think you're eligible for the settlement, be sure to act quickly and file your claim by the deadline. While no estimated date of payment is provided, payments should go out after the final court hearing on August 6, once any disputes are settled.

Even if you don't have a documented loss, consider enrolling in the free credit monitoring, which may help protect your identity, your credit score, and your financial fitness.

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