KeyBank, Overby-Seawell Data Breach Sparks Class Action Lawsuit [UPDATE]
by Erin Shaak
Last Updated on October 18, 2024
Bozin v. KeyBank, N.A. et al.
Filed: August 30, 2022 ◆§ 1:22-cv-01536
KeyBank and Overby-Seawell face a lawsuit over a July 2022 data breach during which mortgage borrowers’ personal information was reportedly compromised.
October 18, 2024 – File a Claim: $6M Overby-Seawell Settlement Website Is Live
The official website for the $6 million KeyBank and Overby-Seawell settlement detailed on this page can be found at OverbySettlement.com, and the time has come for eligible individuals to file a claim form for compensation.
For more details, including information on how to submit a claim form, read ClassAction.org’s write-up about the Overby-Seawell data breach settlement.
June 26, 2024 – KeyBank, Overby-Seawell Company Agree to Settle Data Breach Lawsuit for $6M
The proposed class action lawsuit detailed on this page and several other cases filed over the Overby-Seawell Company (OSC) data breach have been settled for $6 million.
Don’t miss out on settlement news like this. Sign up for ClassAction.org’s free weekly newsletter here.
The deal, which received preliminary approval from the court on June 13, 2024, covers anyone whose personal information was impacted by the July 2022 data security incident discovered by OSC. According to court documents, the settlement includes about 607,924 individuals, many of whom were residential mortgage clients of KeyBank and other lenders that used OSC’s services.
Class members who file a valid, timely claim can receive three years of identity theft protection and credit monitoring services. Those covered by the deal can also submit a claim for reimbursement for up to $6,000 in documented, out-of-pocket expenses fairly traceable to the breach, and $25 for every hour spent dealing with the effects of the incident, with a cap of $125, or an alternative pro rata cash payment.
Class members who resided in California from May 26, 2022 to the end of the claims period can also make a claim for an additional cash payment of $100, on top of any other form of relief. All payments to class members will be increased or decreased on a pro rata basis.
Last year, Fulton Bank paid $750,000 to settle litigation filed on behalf of customers who received notice that their information may have been impacted in the OSC data breach. Fulton Bank settlement participants are eligible to take part in the deal detailed here, although the amount they received in that initial payout will be deducted from the amount they receive in this settlement.
When the time comes, claim forms can be submitted by mail or online when the official settlement website is launched.
ClassAction.org will update this page when the official settlement website goes live, so be sure to check back often.
KeyBank, N.A. and Overby-Seawell Co. have been named in a proposed class action lawsuit over a July 2022 data breach during which mortgage borrowers’ personally identifiable information was reportedly compromised.
The 36-page lawsuit alleges that KeyBank, a mortgage lender and servicer, and Overby-Seawell (OSC), a vendor who verifies KeyBank residential mortgage clients’ maintenance of property insurance, failed to implement adequate data security prior to the incident. As a result, the suit says, unauthorized actors were able to gain access to OSC’s network on July 5 of this year and acquire consumers’ sensitive information.
According to the case, the data compromised in the breach included consumers’ names; mortgage property address and details; mortgage account numbers and information; phone numbers; partial Social Security numbers; and home insurance policy numbers and information.
The lawsuit stresses that this type of information can be used on its own and in combination with other personal details to “perpetuate crimes” against consumers and cause significant damage to their money, property, credit and reputation.
Per the case, the defendants sent notice of the data breach to affected individuals around August 26, 2022. The suit notes that because OSC’s investigation into the incident is ongoing, it’s possible that additional personally identifiable information was compromised.
According to the suit, it was only after the data breach that the defendants took “basic steps recognized in the industry” to protect consumers’ sensitive information.
“Had Defendants properly maintained their systems and adequately protected them, they could have prevented the Data Breach,” the complaint contends.
The lawsuit looks to cover anyone in the U.S. whose personally identifiable information was accessed in the 2022 OSC data breach.
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