The class action lawsuit stemming from a February 2024 data breach at SouthState Bank reached a 1.5 million dollar preliminary settlement agreement that received court approval. The settlement provides affected individuals with free credit monitoring services, reimbursement options up to 3,500 dollars for documented out-of-pocket losses, and pro-rata cash payments for class members who submitted valid claim forms before the established deadlines.
SouthState Bank traces its corporate lineage back to origins as Columbia National Bank in South Carolina before rebranding to South Carolina Bank and Trust, commonly known as SCB&T.
SouthState Bank is generally viewed as a reputable, stable regional financial institution, offering a comprehensive suite of commercial banking, personal checking, mortgage lending, and wealth management services.
The financial compensation available from a data breach class action settlement varies significantly depending on the size of the settlement fund, the total number of participating claimants, and the severity of individual damages.
Yes, SouthState Bank is a well-established and highly regulated financial institution operating under federal banking laws with a long operating history.
Yes, SouthState Corporation completed a major strategic merger combining Independent Bank Group, Inc. and its subsidiary, Independent Financial, into SouthState Bank.
SouthState Bank qualifies as a large regional banking institution rather than a massive national wirehouse, boasting tens of billions of dollars in consolidated assets following strategic mergers and acquisitions.
Daily cash withdrawal limits at SouthState Bank vary depending on the specific type of checking or savings account you hold, the tier of your debit card, and whether you are withdrawing physical cash from an ATM or conducting a teller transaction ins...
The exact cash payout per person from the SouthState Bank data breach settlement fund is variable and depends heavily on the total number of valid claims submitted by class members from the pool of roughly two million affected individuals.