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Flagstar Bank

Flagstar agrees to $31.5 million data breach settlement

Cyber security, Flagstar Bank, Fraud, Law and legal issues /

Flagstar Bank has agreed to a $31.5 million settlement to resolve two class action lawsuits stemming from data breaches which impacted over 2 million consumers. The agreement, pending a Michigan federal judge’s approval, will create the fund for approximately 2,187,170 class members, according to case filings in October. The bank suffered two distinct cyberattacks in […]

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Flagstar reports another net loss amid ongoing revamp

Commercial banking, Commercial lending, CRE, Earnings, Flagstar Bank, Growth strategies /

Key insight: Flagstar logged another quarterly loss, though one that was smaller than in earlier quarters this year. Supporting data: The bank’s third-quarter net loss was $45 million. Forward look: Observers are focused on when the Long Island bank, which was battling for its survival last year, will return to profitability. UPDATE: This article includes

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