PHILADELPHIA–Three credit unions have reportedly asked a federal judge in Philadelphia to approve a $28.5 million settlement with WaWa that would end their negligence claims against the chain of convenience stores over a data breach.
The three credit unions include Inspire FCU, Insight Credit Union and Greater Cincinnati Credit Union, which have been leading a proposed class action against the company.
Terms of the proposed settlement include $18.5 million in compensation to financial institutions for card cancellation and replacement costs related to the breach, $8 million to credit unions to cover fraudulent charges on members’ cards, and $2 million to be divided on a pro rata basis to class members who elect to accept a fixed payment as part of the settlement, according to Law360, which first reported the settlement proposal.
Earlier Settlement Proposal
As CUToday.info reported earlier, Judge Gene E.K. Prater had earlier agreed to approve the settlement between the parties over the 2019 data breach.
In the case, hackers accessed Wawa’s point-of-sale systems, installed malware, and tried to sell stolen customer payment card data on the dark web. The breach, which lasted more than nine months, exposed cardholders’ names, numbers, and expiration dates used in-store and at gas pumps at all Wawa stores.