American Banker Interviews Matthew Wolfe on TruStage Lawsuit

Shook Privacy and Cybersecurity Partner Matthew Wolfe was interviewed by American Banker in “Credit union sues TruStage over cybersecurity incident,” discussing the recent lawsuit filed by a small Pennsylvania credit union. 

The lawsuit claims that TruStage, one of the largest insurance and technology vendors in the industry, failed in the face of a cybersecurity incident, which cut members off from accounts, including their retirement savings.

“The first place I’d go is the contract between the vendor and the customer," Wolfe told American Banker. “If it addresses data security, that gives you a fairly clean answer.”

Wolfe also said that “you could still make a claim on the grounds of common law," and that “the vendor had a duty to exercise reasonable security measures.”

The credit union is pinning its negligence lawsuit on the disruption and the risk that members’ information was exposed.