Bank of Canton $300,000 Data Breach Settlement

Bank of Canton customers who received notice that their personally identifiable information may have been compromised in the 2023 MOVEit security incident could qualify to claim up to $12,500 from a class action settlement.

The Bank of Canton agreed to pay $300,000 to resolve a class action lawsuit alleging negligent data security practices that led to the data breach, which occurred on or around May 27, 2023, when Fiserv Inc., a third-party service provider, experienced a cybersecurity incident involving the MOVEit file transfer software. As a result, sensitive customer information, such as names, account numbers and Social Security numbers, may have been exposed.

Who can file a Bank of Canton claim?

The settlement class includes all current, former and/or prospective customers of The Bank of Canton in the United States whose personally identifiable information was included in files impacted by the MOVEit security incident.

Anyone who received a notice from The Bank of Canton about the potential compromise of their data due to the MOVEit security incident is likely included in the settlement class.

How much is the data breach payout?

Class members may claim:

• Reimbursement for ordinary losses up to $2,500, which can include up to four hours of lost time at $25 per hour (maximum $100 for lost time). Ordinary losses can include bank fees, phone charges, data charges, postage, gasoline for local travel and fees for credit reports or identity theft insurance purchased between May 27, 2023, and Oct. 9, 2025.
• Reimbursement for extraordinary losses up to $10,000 for proven monetary losses, professional fees (such as attorneys’ or accountants’ fees) and fees for credit repair services resulting from the incident
• Alternatively, a one-time cash payment of $100 without the need to document losses or attest to time spent

If the total value of all approved claims exceeds the net settlement fund (the amount remaining after deducting notice, administration, attorneys’ fees and service awards), then all payments will be reduced proportionally.

How to claim a security incident payout

Class members can submit the online claim form or download, print, complete and mail the PDF claim form to the settlement administrator. The deadline to submit a claim is Oct. 9, 2025.

Settlement administrator's mailing address: MOVEit Gilmore v. Bank of Canton Settlement Administrator, P.O. Box 4875, Portland, OR 97208-4875

Is proof or documentation required to submit a claim?

The type of proof or documentation required depends on the type of claim:

• To file an online claim, class members must provide the unique ID and PIN they received with their postcard notice from the settlement administrator. Those who did not receive a postcard notice or have lost theirs should contact the settlement administrator to obtain this information.
• For ordinary and extraordinary loss claims, claimants must provide reasonable documentation showing the amount of unreimbursed loss and that it was more likely than not caused by the MOVEit security incident. Examples include bank statements, receipts, invoices, emails or phone records. Personal statements alone are not sufficient but may be used to clarify or support other documentation.
• For lost time or alternative cash payment claims, class members simply need to check the appropriate box on the claim form.

Payout options

• Digital payment
• Physical check

$300,000 settlement fund breakdown

The $300,000 settlement fund covers:

• Settlement administration costs: $300,000
• Attorneys' fees and costs: To be determined
• Service award to class representative: Up to $5,000
• Payments to class members: Remainder of the fund after above deductions

Important dates

• Exclusion deadline: Sept. 9, 2025
• Claim deadline: Oct. 9, 2025
• Final approval hearing: Oct. 21, 2025

When is the Bank of Canton settlement payout date?

Payments will be made after the court grants final approval of the settlement and any appeals are resolved.

Why was there a class action settlement?

The class action lawsuit alleged a cybersecurity incident in May 2023 allowed cybercriminals to exploit a vulnerability in the MOVEit file transfer software used by Fiserv Inc., a third-party service provider for The Bank of Canton. This breach potentially exposed customers’ personally identificable information, including account names, numbers and Social Security numbers. The plaintiff claimed The Bank of Canton was negligent in its data security practices.

The Bank of Canton denied any wrongdoing but agreed to settle to avoid the cost and uncertainty of litigation.

Sources

1. Class notice.pdf)
2. Settlement agreement
3. Settlement FAQ