A group of Americans will receive an amount of $5,000 which will be sent as a direct deposit as part of the Snap Finance settlement.
$5,000 Snap Finance Settlement
Snap Finance is a financial leader that offers all types of credit to Americans. However, its database was compromised, which affected important and confidential information from its consumers. Even though Snap finance did not accept any wrongdoing, they agreed to a $1.8 million settlement to resolve the data breach class action lawsuit.
In a published article in Top Class Action, those who received information from Snap Finance telling them that their personal information was compromised between June 23 and September 8, 2022 will receive an amount of $5,000. The letter was sent in December 2022.
Recipients of $5,000 Snap Finance Settlement
According to a published article in Bloomberg Law News, around 60,000 consumers of Snap Finance were affected in 2022. The Plaintiffs said that the data breach could have been prevented if Snap had taken reasonable precautions to protect their information.
Furthermore, they will receive $5,000 in various forms of data breach-related expenses. These expenses could include fraud, identity theft, bank fees, credit costs and more.