If you were affected by the 2021 Flagstar Bank data breaches, you may be eligible to claim money from a $31.5 million class action settlement.
Some claimants could receive up to $25,000 for documented losses, but you must file a valid claim by August 11, 2026.
Who qualifies
You may be part of the settlement if Flagstar identified your personal information as affected by one or both of the 2021 breaches. Eligible people should have received a notice by mail or email with a claim ID number.
If you think you qualify but lost the notice, you can contact the settlement administrator at 1-855-542-0397.
What the $25,000 covers
The $25,000 amount is not automatic. It is the maximum reimbursement for documented financial losses tied to the breaches.
Qualifying losses may include:
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Fraudulent charges.
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Identity theft expenses.
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Credit monitoring or credit freeze costs.
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Professional fees.
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Other unreimbursed losses linked to the breach.moneypilot+1
To get that money, you need proof such as bank statements, receipts, invoices, credit reports, tax records, or other documents showing the expense.
Other payment options
If you do not have major documented losses, you may still qualify for a residual cash payment. That amount is estimated at around $60, though it could be higher or lower depending on how many claims are approved. The settlement caps residual payments at $599 per person.
California residents who lived in the state when their information was affected may also qualify for an additional up to $100 statutory payment.
Free credit monitoring
All eligible class members can request three years of free identity protection services through IDX. That package includes:
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Three-bureau credit monitoring.
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Dark web monitoring.
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Lost-wallet assistance.
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Identity restoration support.
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Up to $1 million in identity theft insurance.
Deadline to file
The deadline to submit a claim is August 11, 2026. Claims filed after that date will not be accepted.
You can also opt out or object to the settlement before the deadline if you want to keep your own legal rights or disagree with the terms.
Bottom line
If Flagstar notified you that your information was impacted, this settlement could be worth claiming.
The biggest payouts require proof, but even borrowers without large losses may still qualify for cash or free credit monitoring.
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