On November 21, 2024, Spring EQ filed a notice of data breach with the Attorney General of California after discovering that an unauthorized party was able to access an employee’s email account. In this notice, Spring EQ explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information. Upon completing its investigation, Spring EQ 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 Spring EQ, 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 Spring EQ data breach. For more information, please see our recent piece on the topic here.
What Caused the Spring EQ Data Breach?
The Spring EQ data breach was only recently announced, and more information is expected in the near future. However, Spring EQ’s filing with the Attorney General of California provides some important information on what led up to the breach. According to this source, Spring EQ recently learned of a potential data security incident involving unauthorized access to an employee’s email account. In response, Spring EQ secured the employee’s email account and then launched an investigation into the incident.
Through this investigation, Spring EQ confirmed that an unauthorized party accessed the employee’s email account between July 31, 2024 and August 1, 2024. It was later determined that the email account contained emails and attachments with confidential consumer information.
After learning that sensitive consumer data was accessible to an unauthorized party, Spring EQ reviewed the compromised files to determine what information was leaked and which consumers were impacted.
On November 21, 2024, Spring EQ sent out personalized data breach letters to anyone who was affected by the recent data security incident. While the publicly available data breach letters on the Attorney General of California’s website did not mention what data types were leaked, these personalized data breach letters should provide victims with a list of what information belonging to them was compromised.
More Information About Spring EQ
Founded in 2016, Spring EQ is a mortgage lender based out of Philadelphia, Pennsylvania. Spring EQ serves customers nationwide, offering a range of loan options, including fixed-rate HELOCs, variable-rate HELOCs, home equity lines and more. Spring EQ employs more than 120 people and generates approximately $25 million in annual revenue.
