Cadence Bank Data Breach Settlement Explained: Payout Amounts, Eligibility, and How to File

What Is the Cadence Bank Data Breach Lawsuit?

In late May 2023, a vulnerability in MOVEit Transfer a widely used file-transfer software made by Progress Software was exploited by a ransomware group known as Cl0p. Cadence Bank, a regional financial institution headquartered in Houston, Texas, used MOVEit to move files internally and with third-party partners. Between May 28 and May 31, 2023, unauthorized actors accessed those files and stole sensitive customer information.

Cadence Bank later notified affected customers that their personally identifiable information (PII) including names, Social Security numbers, financial account details, and other sensitive data had been compromised. The notification triggered a wave of consumer complaints and, ultimately, a federal class action lawsuit.

The Cadence Bank data breach class action was consolidated into the broader multidistrict litigation (MDL) in the U.S. District Court for the District of Massachusetts under Judge Allison D. Burroughs. Cadence is one of over 100 corporate defendants named in the sprawling MOVEit MDL, which covers victims from hundreds of organizations whose data was stolen in the same breach window.

Total Fund	$5,250,000
Claim Deadline	June 4, 2026  APPROACHING FAST
Max Individual Payout	Up to $12,500 (extraordinary losses)
Cash Alternative	$100 flat payment (no documentation needed)
Case Name	In re: MOVEit Customer Data Security Breach Litigation, No. 1:23-md-03083
Settlement Website	moveitcadencesettlement.com/form/claim

The $5.25 Million Cadence Bank Settlement

On December 15, 2025, Cadence Bank and the plaintiffs reached a settlement agreement valued at $5.25 million. Plaintiff Tammy Pratt, acting on behalf of the proposed settlement class, filed a motion on December 19, 2025, asking Judge Burroughs to grant preliminary approval of the deal.

In the motion, attorneys described the settlement as fair and reasonable, noting it provides immediate, guaranteed relief in the face of difficult and expensive litigation where the class faced a real risk of recovering nothing if the case continued to trial. The settlement was designed to treat two categories of claimants fairly: those who suffered documented financial losses, and those who did not but whose data was still exposed.

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What Does the Cadence Bank Settlement Cover?

The settlement fund of $5.25 million is available to class members who were notified by Cadence Bank that their personal information was included in files affected by the MOVEit breach between May 28 and May 31, 2023. The settlement provides three main forms of relief:

• Ordinary Loss Reimbursement: Up to $2,500 for documented out-of-pocket costs like credit monitoring fees, bank charges, or time spent dealing with fraud.
• Extraordinary Loss Reimbursement: Up to $10,000 for documented significant losses such as fraudulent withdrawals, identity theft remediation, or other major financial harm directly tied to the breach.
• Alternative Cash Payment: A flat $100 payment for class members who prefer not to document specific losses or who did not suffer traceable financial harm.
• Credit Monitoring & Identity Protection: Two years of credit monitoring and identity theft protection services are available to all eligible class members.

The combined maximum individual payout for those with extraordinary losses is $12,500, though the practical payout per person will depend on total claims submitted relative to the fund size after attorney fees, administrative costs, and service awards are deducted.

Cadence Bank Settlement Payout Per Person: What to Realistically Expect

Many affected customers want to know: what is the Cadence Bank settlement payout per person likely to be in practice? The honest answer is that it depends on how many claims are filed and what type.

Here’s the structure: after attorneys’ fees (typically 25–33% of the fund), settlement administration costs, and any service award to the named plaintiff Tammy Pratt, the remaining amount is distributed to approved claimants. If the fund is depleted by extraordinary loss claims, cash alternative claimants may receive less than $100 on a pro-rata basis.

For reference, many data breach settlements of this size end up paying ordinary-loss claimants somewhere in the range of their documented amount (if small), or a proportional share if the fund runs short. Those with extraordinary documented losses stand the best chance of recovering a meaningful sum. If you have clear documentation of identity theft or fraudulent charges traceable to this breach, filing under the extraordinary losses category is strongly advisable.

Cadence Bank Settlement Payout Date: When Will You Get Paid?

As of May 2026, the settlement is still working through the court approval process. The claim deadline is June 4, 2026, and actual settlement payouts will not begin until after the court grants final approval and any appeal period lapses. Based on typical timelines in data breach MDL settlements, class members who file valid claims can realistically expect payment sometime in late 2026 or early 2027.

The court has not yet set a final approval hearing date publicly, but given that preliminary approval motions were filed in December 2025, a final approval hearing could be scheduled for summer or fall of 2026. After final approval, there is typically a 30- to 60-day period for any objectors to appeal before the settlement becomes effective and payments are disbursed.

In short: file your claim before June 4, 2026, and then be patient. Settlement checks or electronic payments are months away, but missing the deadline means forfeiting your share entirely.

Cadence Bank Lawsuit Client Form: How to File Your Claim

Filing a claim is straightforward. Here is a step-by-step breakdown:

• Visit the official settlement website: moveitcadencesettlement.com/form/claim
• Complete the Cadence Bank lawsuit client form online. You will need the unique claim ID included in your notification letter from Cadence Bank.
• Select your claim type: Ordinary Loss Reimbursement ($2,500 max), Extraordinary Loss Reimbursement ($10,000 max), or the $100 Cash Alternative.
• Upload supporting documentation if claiming ordinary or extraordinary losses. This includes bank statements, receipts, credit reports, fraud dispute letters, or any records showing harm tied to the breach.
• Submit the form before June 4, 2026. Late submissions will not be accepted.

If you cannot locate your claim ID or did not receive a notification letter but believe you were a Cadence Bank customer during or before May 2023, contact the settlement administrator directly through the settlement website for assistance.

Who Qualifies for the Cadence Bank Data Breach Settlement?

You are a potential class member and may be eligible to file a claim if:

• You received a written notification from Cadence Bank stating that your personal information was included in files impacted by the MOVEit data breach in May 2023.
• Your data was exposed between May 28 and May 31, 2023 specifically through Cadence Bank’s use of MOVEit software.
• You did not previously opt out of the class action or bring an individual lawsuit against Cadence Bank for this specific breach.

If you’re unsure whether you qualify, the settlement website includes a lookup tool using your claim ID. You can also contact the settlement administrator by phone or email (contact details are listed on the official site).

Cadence Bank Settlement Payout Deadline: Current Status

Current Deadline Status (as of May 2026): OPEN The claim filing window is still active. You have until June 4, 2026 to submit your claim at moveitcadencesettlement.com. This is your final opportunity to participate in the $5.25 million settlement fund. After this date, no new claims will be accepted under any circumstances.

If you were affected and have not yet filed, do so now. The process takes approximately 10–15 minutes for the cash alternative option and 20–30 minutes if you are uploading documentation for loss reimbursement.

Key Dates and Timeline

May 28–31, 2023	MOVEit data breach occurs; Cadence Bank customer files accessed
2023–2025	Federal class action filed; consolidated into MOVEit MDL in Massachusetts
December 15, 2025	Settlement agreement executed between Cadence Bank and plaintiffs
December 19, 2025	Motion for preliminary approval filed with Judge Burroughs
March 2026	Settlement promoted and notice sent to class members
June 4, 2026	CLAIM FILING DEADLINE — Last day to submit your claim
Late 2026 / Early 2027	Estimated settlement payout date (after final approval)

What Information Was Exposed in the Cadence Bank Data Breach?

The types of personal information compromised in the MOVEit breach vary by individual, but for Cadence Bank customers, exposed data typically included:

• Full legal name
• Social Security number (SSN)
• Financial account numbers
• Dates of birth
• Home address and contact information
• Government-issued ID numbers in some cases

This type of sensitive financial data is particularly attractive to identity thieves. If you have not already done so, it is strongly advisable to place a free credit freeze at all three major bureaus (Equifax, Experian, TransUnion), review your credit reports for unfamiliar accounts, and enable fraud alerts on your bank and credit card accounts regardless of whether you file a claim.

Should You Accept the $100 Cash Alternative or Document Your Losses?

This is the most practical question most class members face. Here’s a straightforward breakdown:

Take the $100 if:

• You did not experience any specific financial harm or identity theft from this breach.
• You don’t have time to gather documentation.
• You simply want quick, guaranteed compensation without paperwork.

Document your losses if:

• You experienced fraudulent charges, unauthorized account openings, or identity theft after May 2023 that you can tie to this breach.
• You paid for credit monitoring, identity restoration services, or fraud alert services as a result of the breach notification.
• You spent significant time (hours) dealing with the fallout the settlement also compensates for documented time at a reasonable hourly rate.

For most people without documented losses, the $100 alternative is the fastest and most practical path. For those with clear, documented harm, filing under the extraordinary or ordinary loss category is worth the extra effort.

Final Reminder: Act Before June 4, 2026

If your personal data was exposed in the Cadence Bank MOVEit breach, you have a legitimate claim to compensation. The $5.25 million settlement fund exists specifically for people like you. Filing takes as little as 10 minutes for the $100 cash option. The deadline June 4, 2026 will not be extended. Visit moveitcadencesettlement.com today.

Frequently Asked Questions (FAQ)

What is the Cadence Bank data breach settlement?
It is a $5.25 million class action settlement resolving claims that Cadence Bank failed to protect customer data during the May 2023 MOVEit cyber attack. Eligible class members can claim reimbursement for losses or receive a $100 cash payment.

What is the Cadence Bank settlement claim deadline?
The deadline to file a claim is June 4, 2026. This is a hard cutoff claims submitted after this date will not be accepted.

How much will I get from the Cadence Bank settlement payout per person?
You can receive up to $2,500 for ordinary losses, up to $10,000 for extraordinary losses (combined max $12,500), or a flat $100 if you choose the cash alternative. Final payouts depend on total approved claims and available funds after fees.

When is the Cadence Bank settlement payout date?
Exact payment timing depends on court approval. Based on current progress, class members who file valid claims before the June 4, 2026 deadline can expect to receive payment in late 2026 or early 2027.

How do I fill out the Cadence Bank lawsuit client form?
Visit moveitcadencesettlement.com/form/claim, enter your unique claim ID from your notification letter, select your claim type, upload any required documentation, and submit before June 4, 2026.

Do I need a lawyer to file a claim?
No. The claims process is straightforward and can be completed without legal representation directly on the settlement website.

Disclaimer: This article is for informational purposes only and does not constitute legal advice. For legal counsel regarding your specific situation, consult a licensed attorney. Settlement terms, deadlines, and amounts are subject to court approval and may change. Always verify the latest information at the official settlement website.