Ingo Money $1.53M Data Breach Class Action Settlement

If you are an individual in the United States who received notice of the November 2023 Data Security Incident from Ingo Money, you may qualify to submit a claim for up to $5,000 from a class action settlement.

Ingo Money, Inc. has agreed to pay $1,528,880 to settle a class action lawsuit for alleged security failures that led to a data breach.

Who is eligible for a data breach settlement payment?

• Current and former customers who were notified by Ingo Money about the November 2023 cybersecurity incident.
• Individuals who received a court-ordered settlement notice.

How much is the Ingo Money payout?

Class members can select from the following claim options:

• Documented Loss Payment: Up to $5,000 for documented losses traceable to the data incident.
• Cash Award: Pro-rata share of the net settlement instead of submitting a Loss Payment claim after those and other fees and costs are paid.
• Credit Monitoring: Three years of three bureau credit monitoring and identity theft insurance services.

How to claim an Ingo Money data breach payment

To claim a settlement payout, class members must complete and submit by the claim deadline of May 15, 2025. You can file a claim form online or download the PDF claim form and mail it to the settlement administrator.

Settlement Administrator's mailing address: Ingo Money Data Incident Settlement, c/o Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103.

Documentation requirements

• Notice ID and Confirmation Code required to submit online
• Documented Loss Payment claims require proof such as bank statements and receipts for credit repair services [1].

Payout options

Class members can select one of the following:

• PayPal
• Venmo
• Zelle
• Virtual Prepaid Card
• Check mailed to address provided

$1.53 Million settlement fund breakout

The settlement fund of $1,528,880 will cover the following:

• Ingo business practice changes: $350,000
• Settlement administration costs: To be determined
• Attorneys' fees and expenses: Up to $539,626
• Service award to the class representative: $2,500
• Credit Monitoring and Identity Protection Services: To be determined
• Payments to class members with valid claims: Remaining amount after other expenses [1]

Important dates

• Deadline to File a Claim: May 15, 2025
• Final Approval Hearing: June 17, 2025

When is the Ingo Money Data Incident payout date?

The final approval hearing is scheduled for June 17, 2025. Approved claimants will receive payments after the court grants the settlement final approval.

Why was there a class action settlement?

The lawsuit was filed due to a cybersecurity incident that allegedly compromised private information of Ingo Money's customers and former customers. The settlement avoids the risks and costs of prolonged litigation [1].

Sources

1] [Official Settlement Website