Credit Union National Association Sues Equifax Over Data Breach

Credit Union National Association Sues Equifax On Behalf Of  Its Members Over Losses From Data Breach

The Credit Union National Association is suing Equifax on behalf of its members.

CUNA filed the lawsuit last week in Federal Court in Atlanta. The suit seeks to recover the costs borne by credit unions in the aftermath of the Equifax's security breach.

The lead plaintiffs are the Army Aviation Center Federal Credit Union, the Greater Cincinnati Credit Union, and CUNA.

CUNA President/CEO Jim Nussle told Housing Wire:

We filed this lawsuit because our member credit unions are very concerned about the effects of this breach. Everything from re-issuing compromised cards to adding uncertainty to the loan underwriting process. Credit unions will bear substantial costs dealing with the fallout from this breach. This lawsuit is a step toward recouping those costs.

In the lawsuit alleges Equifax's negligent handling of consumers’ personal information will lead to financial harm for financial institutions. The breach led to the exposure of 145.5 million consumers’ information.

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