Are you a former or current customer of Cadence Bank? If yes, you may be eligible for a payout from the Cadence Bank $5.25M MOVEit data breach settlement. A class member can get up to $12,500 from the fund, for which he or she is required to file a claim form.
Here, you will get to know all about the Cadence Bank $5.25M MOVEit Data Breach class action settlement. Ensure you read this article thoroughly so you don’t miss any important details about the settlement; skipping may result in getting no payout from the fund.
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Cadence Bank $5.25M MOVEit Data Breach Settlement
Cadence Bank was sued for the data breach incident of May 2023, which happened through the MOVEit file transfer application, because they neglected data security practices. To solve the matter, the bank has agreed to a settlement of $5.25 million but didn’t accept any wrongdoing, although the settlement has already received preliminary approval.
A total number of 869,411 individuals were affected by the cybersecurity incident; all of them are going to get a portion from the settlement fund. To get a payout from the Cadence Bank $5.25M MOVEit Data Breach Settlement, you have to file a claim form on or before June 4, 2026; it can be filed online or, alternatively, offline.
| Settlement Name | Cadence Bank $5.25M MOVEit Data Breach Settlement |
| Data Breach Date | May 2023 |
| Settlement Amount | $5.25 Million |
| Affected Individuals | 869,411 people |
| Claim Deadline | June 4, 2026 |
| Ordinary Loss Payment | Up to $2,500 |
| Extraordinary Loss Payment | Up to $10,000 |
| Maximum Possible Payment | Up to $12,500 |
| Alternative Cash Payment | Around $100 (pro-rata) |
| Expected Payout Time | Around August 2026 after final approval |
Who can file a Cadence Bank MOVEit settlement claim form?
You can file a claim form for the Cadence Bank $5.25 million MOVEit data breach settlement if you meet the following requirements:
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- You are a US citizen.
- Your personal information was compromised in the Cadence Bank MOVEit data breach incident in May 2023.
- You received a notice about the Cadence Bank $5.25M MOVEit data breach settlement with a unique ID and PIN.
How much will be received from the Cadence Bank MOVEit settlement?
The amount you can get from the Cadence Bank $5.25M MOVEit Data Breach class action settlement depends on your claim form type; refer to the listed points to check the details about the same:
- If you have experienced ordinary losses, you can expect to get up to $2,500. It includes the following:
- Bank fees from fraud
- Credit card fees from unauthorized charges
- Credit report fees
- Credit monitoring costs
- Postage expenses
- Travel or gas costs
- Phone charges related to the breach
- Credit freeze/unfreeze fees
- Lost time resolving the issue with the rate of $25 for a maximum of 4 hours.
- If you have experienced any extraordinary losses, you can get up to $10,000. The eligible expenses are:
- Identity theft losses
- Fraudulent bank withdrawals
- Unauthorized credit card transactions
- Tax fraud losses
- Lawyer or accountant fees
- Credit repair service costs
- Replacement of government IDs or documents
- Major financial damages from the breach
- Loss from misuse of personal data
- Other significant documented losses
If you claim both ordinary and extraordinary losses, you can expect to get up to $12,500. If you haven’t experienced any out-of-pocket expenses, you can claim alternative cash payment and expect to get a payout of $100 on a pro-rata basis.
In addition to cash benefits, you will receive two years of three-bureau credit monitoring and identity theft protection services, which include the following:
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- Dark web monitoring with alerts
- Identity theft insurance up to $1 million
- Real-time credit monitoring
- Fraud and identity theft support services
How to file a Cadence Bank MOVEit settlement claim form?
To file a claim form for the Cadence Bank $5.25M MOVEit Data Breach settlement, go through the step-by-step instructions available below.
- Go to the Cadence Bank MOVEit data breach settlement portal at moveitcadencesettlement.com.
- Find and click on the ‘SUBMIT A CLAIM’ button.
- Enter your unique ID and PIN and click on the Login button.
- Fill in your personal information and contact details.
- Upload documents, if claiming ordinary or extraordinary losses.
- Choose a payment gateway; it is recommended that you go with the direct deposit.
- Review all the details you have provided in your claim form and click on the Submit button.
When to expect a payout from the Cadence Bank MOVEit settlement?
The payout from the Cadence Bank $5.25M MOVEit data breach settlement will be received shortly after the final approval. As the hearing for the final approval is scheduled for July 9, 2026, we can expect the payout from the settlement will be received by August 2026.
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