Some Equifax settlement checks bounced due to 'clerical error' at failed Signature Bank
Publishing timestamp: 2023-03-17 17:58:43
Summary
Some consumers who received checks as part of the Equifax settlement over the 2017 data breach found that their checks bounced when they tried to deposit them. The checks were written against an account at Signature Bank, which was taken over by regulators after account holders began withdrawing their money en masse. However, the bounced checks were not related to the bank's failure, but rather a clerical error. The number of affected consumers is fewer than 5000, according to the settlement administrator. Those who had their checks bounced will be contacted by the administrator and their checks will be reissued. If consumers were charged a fee by their bank for the incident, they can reach out to the administrator for reimbursement.
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Keywords: legal settlements, personal finance, banks, equifax inc, investment strategy, consumer banking, cybersecurity, transunion, business news, credit report, signature bank, class action lawsuits, experian plc,