Summit Credit Union to sue Equifax over data breach

Class action suit: Damages to company, members
Summit Credit Union to sue Equifax over data breach
CNN

Madison-based Summit Credit Union is suing credit bureau Equifax over a major data breach last month.

A lawsuit filed in federal court in the northern district of Georgia claims that the data breach has caused damages to both the credit union’s 162,000 members and its business, including costs to cancel accounts and credit cards and dealing with fraudulent activity.

Earlier this month, Equifax announced that 143 million consumers may have had personal information stolen by hackers who accessed their site earlier in the year. Since then, consumers have been making moves to monitor or freeze their credit.

Summit is asking a judge to stop Equifax from “negligent business practices” and require the company to pay for restitution and damages resulting from the breach.

An attorney for Summit called the breach “unprecedented.”

“The Equifax breach is unprecedented in its size, magnitude, and nature of information stolen,” said Stacey Slaughter, the lead counsel for Summit Credit Union. “It is a watershed case that will change the way we look at data breaches going forward.”

Summit is one of many who are suing the company. USA Today reports that some 70 class action lawsuits have been filed since the Sept. 7 announcement.