ICBA Sues Equifax Over Data Breach

Nov 27, 2017

ICBA filed a lawsuit on behalf of community banks against Equifax Inc. for its breach of 145.5 million consumer records and 209,000 payment cards. Bank of Zachary, La., and First State Bank in Barboursville, W.Va., joined ICBA in the suit.

ICBA will host an audio conference at 2 p.m. (Eastern time) this Friday, Dec. 1, for community banks interested in learning more about ICBA’s suit and their litigation options. Registration may be done online or by phone at 888-869-1189.

ICBA’s lawsuit asks the U.S. District Court for the Northern District of Georgia to require Equifax to compensate all community banks harmed by the breach and to improve its security to avoid additional harm to consumers and local communities.

In a message to community bankers, ICBA President and CEO Cam Fine wrote that the breach will cause long-term damages as community banks implement protections to limit the risk of identity theft and fraud. Fine noted that the breach was the result of Equifax failing to heed warnings from security experts to properly secure its U.S. website.

Read ICBA’s Complaint

Register for Audio Conference

Read ICBA Release

Read Fine’s Message

Read More on Breach