Academy Mortgage Corp. has agreed to a $1.9 million class-action settlement resolving claims tied to a March 2023 data breach that exposed sensitive consumer information, including Social Security numbers and financial data.
The settlement covers people who received a notice from Academy Mortgage saying their personal information may have been compromised. Academy Mortgage, a Utah-based mortgage lender, has not admitted wrongdoing. The agreement would resolve claims that the company failed to use reasonable cybersecurity measures to protect consumers’ information.
What the settlement would provide
Eligible class members could seek reimbursement for documented losses connected to the breach. The maximum payment for those losses is up to $3,000. Covered expenses may include credit-monitoring services, fraud and identity-theft losses, bank fees and communication costs, according to the settlement information.
Consumers seeking reimbursement for documented losses must provide supporting records. Those who do not claim documented expenses may qualify for a cash payment distributed on a pro rata basis, meaning the amount depends on the funds available and the number of valid claims. California residents would receive twice the standard pro rata payment.
| Settlement benefit | Terms |
|---|---|
| Documented losses | Up to $3,000, with documentation required |
| Cash payment | Pro rata payment; California residents receive double the amount |
| Monitoring | Three years of free single-bureau credit monitoring and identity-protection services |
Monitoring and identity-recovery services
Every class member is eligible for three years of free credit monitoring. The package includes monitoring from one credit bureau, dark-web monitoring, up to $1 million in identity-theft insurance and fully managed identity-recovery services.
The monitoring benefit is separate from the cash options. A person may qualify for the services even without documented losses, while the settlement’s cash payments have different requirements depending on whether the claim involves specific expenses or the pro rata distribution.
Deadlines and court schedule
The deadline to submit a valid claim form is Jan. 27, 2027. People who want to exclude themselves from the settlement or object to its terms must do so by Dec. 28, 2026.
A final approval hearing is scheduled for March 31, 2027. The hearing is part of the court process for reviewing the agreement. The settlement benefits described above depend on submitting a valid claim under the applicable terms and on the agreement proceeding through that process.
- The settlement concerns consumers notified that their information may have been exposed in Academy Mortgage’s March 2023 breach.
- Documented losses may qualify for reimbursement of up to $3,000.
- Claims are due Jan. 27, 2027, and all class members may receive three years of identity and credit monitoring.
