Is there a $1.2M settlement for the First Commonwealth Federal Credit Union data breach?

First Commonwealth Federal Credit Union has reached a $1.2 million settlement in a class action lawsuit following a data breach that exposed sensitive consumer information. The breach affected personal details such as names, Social Security numbers, and financial data. Consumers affected by the breach alleged that the credit union could have prevented the incident with proper cybersecurity measures. Although First Commonwealth Federal Credit Union has not admitted to any wrongdoing, it has agreed to the settlement to address the claims. Affected individuals can choose between a cash payment or reimbursement for documented losses, with compensation for documented losses reaching up to $5,000. For those without documented losses, a smaller payment of $100 is available. Additionally, all affected individuals are entitled to three years of free credit monitoring, which includes features like real-time credit file monitoring and identity theft insurance. Important dates include a deadline for exclusion and objection on February 3, 2026, and a final approval hearing set for March 5, 2026. To benefit from the settlement, claims must be submitted by February 18, 2026.