NCB Management Services $2.63 Million Data Breach Settlement

Overview

If you received a notice that your personal data was compromised in the March 2023 data breach involving NCB Management Services Inc., you may be eligible for compensation of up to $2,500 as part of a $2.63 million class action settlement.

The lawsuit claimed that NCB failed to implement adequate data security measures, leading to unauthorized access to sensitive information affecting over 1.6 million individuals. NCB denies wrongdoing but agreed to settle to resolve the matter.

Who Is Eligible?

You may qualify to file a claim if:

  • You are a U.S. resident whose personal information was involved in the data breach announced by NCB around March 24, 2023.
  • You received a data breach notification from NCB or one of its partners, including Bank of America or Pathward.

What You Can Claim

Eligible class members can choose between the following settlement benefits:

  1. Reimbursement for Out-of-Pocket Losses and Lost Time
    • Up to $2,500 for documented losses such as:
      • Unreimbursed fraud or identity theft expenses
      • Professional services (e.g., attorneys, tax advisors)
      • Lost interest from delayed refunds
      • Credit monitoring or freeze fees
      • Other directly related costs
    • Up to four hours of lost time at $30 per hour (maximum $120) for actions taken to deal with the breach
  2. Alternative Cash Payment
    • If you did not experience losses or lost time, you may choose a flat cash payment.
    • The amount will be determined based on the number of valid claims filed.

How to File a Claim

You can file a claim in one of two ways:

  • Online via the official settlement website
  • By Mail by downloading, printing, and completing the PDF claim form and sending it to:
    NCB Management Services Data Breach Settlement
    c/o Kroll Settlement Administration LLC
    P.O. Box 225391
    New York, NY 10150-5391

Deadline to File a Claim: August 26, 2025
(Also the deadline to opt out of the settlement)

Required Documentation

To receive a payment, you must:

  • Provide your class member ID number from the settlement notice
  • For reimbursement of expenses: Include receipts, account statements, IRS letters, or other proof
  • For lost time: Submit a statement describing the actions you took and the time spent

Payment Options

Payments will be issued via one of the following:

  • PayPal
  • Venmo
  • Zelle
  • Virtual Mastercard
  • Direct deposit
  • Paper check

(Online claims are required for electronic payment options.)

Settlement Fund Breakdown

The $2.63 million settlement includes:

  • Attorneys’ fees: Up to $875,000
  • Attorneys’ expenses: Up to $50,000
  • Service awards to class representatives: Up to $2,000 each (totaling $36,000)
  • Administrative costs: Amount to be determined
  • Remaining funds will be used for payments to approved claimants

Important Dates

  • Claim Deadline: August 26, 2025
  • Opt-Out Deadline: August 26, 2025
  • Final Approval Hearing: September 29, 2025

When Will Payments Be Made?

Payments will be issued approximately 60 days after the settlement receives final court approval and any appeals are resolved.

Background of the Case

The lawsuit alleged that NCB Management Services failed to maintain adequate data security, resulting in a cyberattack that exposed sensitive consumer information. The plaintiffs claimed that unauthorized parties accessed or stole personal data due to NCB’s insufficient safeguards.

While NCB denies any legal liability or wrongdoing, it chose to settle the case to avoid further litigation expenses and uncertainties.

Sources

Status: Open for Claims
Potential Award: Varies (up to $2,500)
Deadline to File: August 26, 2025