On November 10, 2023, Republic Bank of Chicago (“Republic Bank”) filed a notice of data breach with the Attorney General of Texas after discovering that sensitive information within the company’s control was subject to unauthorized access. In this notice, Republic Bank explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their name and financial account information. Upon completing its investigation, Republic Bank began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
If you received a data breach notification from the Republic Bank of Chicago, it is essential you understand what is at risk and what you can do about it. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft, as well as discuss your legal options following the Republic Bank of Chicago data breach. For more information, please see our recent piece on the topic here.
What Caused the Republic Bank of Chicago Data Breach?
The Republic Bank of Chicago data breach was only recently announced, and more information is expected in the near future. Unfortunately, Republic Bank’s filing with the Attorney General of Texas provides little information on what led up to the breach and at this point, it does not appear that Republic Bank has posted a detailed explanation of the incident.
However, what we do know is that on November 10, 2023, Republic Bank filed notice of a data breach with the Attorney General of Texas. In this notice, Republic Bank indicates that the incident affected 7,199 Texas consumers.
At this point, we cannot confirm whether the incident was the result of a cyberattack targeting the Republic Bank of Chicago or whether hackers obtained the information through a third-party cyber attack orchestrated against one of the bank’s vendors.
Regardless, after learning that sensitive consumer data was accessible to an unauthorized party, Republic Bank of Chicago reviewed the compromised files to determine what information was leaked and which consumers were impacted. While the breached information varies depending on the individual, it may include your name and financial account information, such as bank account numbers and debit/credit card numbers.
In the November 10, 2023 filing by Republic Bank of Chicago, the bank indicated that it sent notification to all affected parties through U.S. mail. These letters should provide victims with a list of what information belonging to them was compromised.
More Information About Republic Bank of Chicago
Established in 1964, Republic Bank of Chicago is a financial institution based in Chicago, Illinois. The bank offers traditional banking services and products, such as personal checking and savings accounts, money market accounts, credit cards, personal loans, home mortgages and more. Republic Bank also offers business banking services and fintech services. Republic Bank of Chicago operates 19 branches in and around Chicago. Republic Bank of Chicago employs more than 258 people and generates approximately $103 million in annual revenue.
