Simon Says – Musings of a Technology CTO

Following on from the Countrywide Financial data breach back in 2008, they now find themselves saddled with a class action lawsuit for $20,000,000.

Countrywide Financials problems all started when employee Rene Rebollo confessed to downloading 20,000 data files per week and selling them to Wahid Siddiqi for as much as $70,000 (a total of 2.2 million people’s information was compromised), this leading to Bank Of America (their new owners) paying $350,000 to Connecticut to settle claims.

The terms of the class action can be found on http:\\www.cwdataclaims.com, but they include up to $50,000 reimbursement per incident of identity theft from a fund of $5,000,000, free credit monitoring, $90 for opening a new account, $20 per month, up to $200 for credit monitoring, $10 per hour for telephone calls etc, and many other miscellaneous things.