WASHINGTON—As the result of a lawsuit filed by two CUs, credit unions and other financial institutions affected by a 2018 data breach at Toronto-based Hudson’s Bay can use the settlement website to file a claim. Claims must be filed by Feb. 17, 2022.
The settlement was proposed in Arkansas FCU and Summit FCU v. Hudson’s Bay Company, et al., and the court will hold a final approval hearing Dec. 7.
In addition to stores operating under its own brand name, Hudson’s Bay is parent to Saks, Saks OFF 5th and Lord & Taylor, all of which were affected by the data breach involving payments cards.
Earlier this year Hudson’s Bay announced it had agreed to pay up to $4 million to a class of financial institutions and up to $2 million to a consumer class.
Under the Settlement, two types of claims may be made: “Fixed Payment Claims” and “Documented Out-of-Pocket Claims,” CUNA reported.
Settlement Class Members
A Settlement Class Member may make one or both types of claims. Hudson’s Bay will pay, on a claims-made basis, up to a maximum aggregate amount of $3 million to the Settlement Class Members who submit approved Fixed Payment Claims and $1 million to the Settlement Class Members who submit approved Documented Out-of-Pocket Claims (subject to a pro rata reduction, if necessary), CUNA stated.