Home Depot Payments Start in January; Equifax Suits are Combined

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Credit unions who made claims under the Home Depot data breach settlement will begin receiving settlement payments from the company starting in January.

A settlement was approved in September that included the creation of a $25 million fund by Home Depot and an agreement to strengthen its future data security measures.

“We are pleased that credit unions were able to mobilize and hold merchants accountable for their actions,” said Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues.

She said the Leagues and the Credit Union National Association (CUNA) remain active in seeking recompense from other data breaches. In the meantime they will continue their advocacy work to hold merchants to the same strict data security standards that credit unions follow.

The judge who approved the Home Depot settlement—Judge Thomas W. Thrash Jr.—will also hear the consolidated class action lawsuits against Equifax, it was announced Thursday. The consolidated suit will be heard in the U.S. District Court for the Northern District of Georgia.

CUNA filed its lawsuit against Equifax as a result of the data breach announced in September that exposed information of as many as 145 million consumers. A number of credit unions and leagues joined CUNA by filing additional suits, which have now been consolidated for judicial efficiency.

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