$31.5M Flagstar Bank data breach class action settlement

Flagstar Bank agreed to a $31.5 million class action settlement to resolve claims it failed to prevent two 2021 data breaches that compromised the information of more than 2 million consumers.

The Flagstar Bank settlement benefits consumers whose personal information was compromised in the Flagstar Bank data breaches in January and December 2021.

According to a Flagstar Bank data breach class action lawsuit, the two data breaches compromised the personally identifiable information (PII) of more than 2 million consumers, including approximately 364,000 California residents. Plaintiffs in the case argued that Flagstar could have prevented the data breaches with reasonable cybersecurity measures.

Flagstar Bank is a financial institution that offers banking, mortgage and commercial services.

Flagstar Bank has not admitted any wrongdoing but agreed to a $31.5 million settlement to resolve the class action allegations.

Under the terms of the Flagstar Bank settlement, class members can receive up to $25,000 for documented monetary losses related to the data breaches. These losses can include fraudulent charges, identity theft damages, professional fees, credit costs and more.

Class members can also receive an estimated residual cash payment of $60 and up to $599, depending on the number of claimants.

California residents can receive an additional statutory payment of up to $100.

All class members are eligible for three years of free credit monitoring services through IDX. These services include three-bureau credit monitoring, $1 million in identity theft insurance, cyberscan dark web monitoring, fully managed identity restoration services, member advisory services and lost wallet assistance.

The deadline for exclusion and objection is June 29, 2026.

The final approval hearing for the Flagstar Bank class action settlement is scheduled for Oct. 1, 2026.

To receive settlement benefits, class members must submit a valid claim form by Aug. 11, 2026.

Who’s Eligible

The class action settlement benefits consumers who were identified by Flagstar as having their personal information impacted by the Flagstar Bank data breaches in January and December 2021.

Potential Award

Up to $25,000 for documented monetary losses, a pro rata payment of $60, up to $599, and a $100 California statutory payment.

Proof of Purchase

Receipts, invoices, account statements and/or tax forms related to data breach losses.

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

08/11/2026

Case Name

Angus, et al. v. Flagstar Bank N.A., Case No. 2:21-cv-10657-MFL-DRG, in the U.S. District Court for the Eastern District of Michigan

Final Hearing

10/01/2026

Settlement Website

FlagstarSettlement.com

Claims Administrator

Flagstar Settlement Administrator
P.O. Box 4427
Baton Rouge, LA 70821
[email protected]
855-542-0397

Class Counsel

John A. Yanchunis
MORGAN & MORGAN COMPLEX LITIGATION GROUP

Norman E. Siegel
STUEVE SIEGEL HANSON LLP

Defense Counsel

Marcella L. Lape
William E. Ridgeway
SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP

Sean P. McNally
Jason E. Manning
TROUTMAN PEPPER HAMILTON SANDERS LLP