If you got a notice from Cadence Bank saying your personal information may have been exposed in the 2023 MOVEit data breach, you could qualify for cash payments, reimbursement for losses, and free credit monitoring from a $5.25 million class action settlement.
Eligible class members may claim:
- Up to $2,500 for ordinary losses
- Up to $10,000 for extraordinary losses tied to fraud or identity theft
- A possible cash payment estimated at $100
- Two years of credit monitoring and identity theft protection
What happened?
The lawsuit claimed cybercriminals exploited vulnerabilities in the MOVEit Transfer file-sharing application used by Cadence Bank, leading to unauthorized access to customers’ personally identifying information between May 28, 2023, and May 31, 2023.
Plaintiffs alleged Cadence Bank failed to adequately protect customer data and did not maintain reasonable cybersecurity safeguards.
Cadence Bank denies wrongdoing but agreed to settle the case to avoid ongoing litigation costs and risks. As part of the settlement, the bank also agreed to invest at least $3.5 million in data security improvements.
Who is eligible?
You may be included in the settlement if:
- You reside in the United States, and
- You received a notice from Cadence Bank around Sept. 15, 2023 stating your personally identifying information may have been impacted in the MOVEit data breach.
How much money can you get?
Eligible class members can choose from several benefit options depending on their situation.
Ordinary losses — up to $2,500
You may claim reimbursement for documented out-of-pocket expenses related to the breach, including:
- Bank fees
- Credit monitoring costs
- Postage
- Local travel expenses
- Credit report fees
- Other unreimbursed expenses
This category also includes compensation for lost time:
- Up to 4 hours at $25 per hour
- Maximum $100 for lost time
Extraordinary losses — up to $10,000
You may qualify for reimbursement for documented monetary losses related to fraud or identity theft connected to the breach, including:
- Fraud-related losses
- Identity theft expenses
- Attorney or accountant fees
- Credit repair costs
Alternative cash payment
Instead of claiming losses, class members may choose a cash payment estimated at $100, though the final amount may increase or decrease depending on the number of claims filed.
Credit monitoring benefits
All class members can also request:
- Two years of three-bureau credit monitoring
- Dark web monitoring
- Identity theft restoration services
- Up to $1 million in identity theft insurance
Your options
| Option | Deadline | What It Means |
|---|---|---|
| Submit a Claim | June 4, 2026 | File a claim to receive cash payments and/or credit monitoring benefits. |
| Exclude Yourself | May 5, 2026 | Remove yourself from the settlement and keep your right to sue separately. |
| Object to the Settlement | May 5, 2026 | Stay in the settlement but tell the court why you disagree with it. |
| Do Nothing | No deadline | Receive no payment and still give up certain legal rights. |
| Final Approval Hearing | July 9, 2026 | The court will decide whether to approve the settlement. |
How to file a claim?
Class members can submit a claim online or by mail. To file online, you’ll need the Unique ID and PIN from the notice you received.
You may also need supporting documentation depending on the type of claim you submit.
Examples of accepted documentation include:
- Receipts
- Bank or credit card statements
- Invoices
- Fraud reports
- Identity theft documentation
Mailing address
MOVEit Cadence Bank Data Breach Settlement
c/o Settlement Administrator
P.O. Box 25226
Santa Ana, CA 92799-9834
Payments and credit monitoring enrollment information will be distributed after the court grants final approval and any appeals are resolved.
