A US bank has agreed to pay hundreds of thousands of dollars to settle a class action lawsuit accusing the lender of failing to properly secure customer data. AccordingA US bank has agreed to pay hundreds of thousands of dollars to settle a class action lawsuit accusing the lender of failing to properly secure customer data. According

Bank Paying Up To $5,000 Per Customer After Data Breach Exposed Social Security Numbers, Account Numbers and Contact Info

A US bank has agreed to pay hundreds of thousands of dollars to settle a class action lawsuit accusing the lender of failing to properly secure customer data.

According to the settlement administrator’s portal, Summit National Bank will set up a $400,000 settlement fund that will be used to pay victims of a data breach that exposed customers’ personally identifying information, including full names, social security numbers, contact information and account numbers.

The breach happened when an unauthorized individual accessed a Summit National Bank email account between May 13th and May 16th of 2024. The Bank discovered suspicious activity within the email account on May 15th of 2024.

The settlement class members who suffered out-of-pocket losses that can be directly linked to the data breach and have the documentation to prove it stand to receive up to $5,000 as a settlement.

There will also be a cash payment, tentatively set at around $175, that will be determined on a pro rata basis.

The settlement class members also stand to receive free credit and identity theft monitoring services for three years as part of the deal.

Compensation claims must be submitted by February 17th of 2026. The final approval hearing will be held on April 21st of 2026.

Although Summit National Bank has agreed to the settlement, the lender denies any wrongdoing.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Bank Paying Up To $5,000 Per Customer After Data Breach Exposed Social Security Numbers, Account Numbers and Contact Info appeared first on The Daily Hodl.

Market Opportunity
Lorenzo Protocol Logo
Lorenzo Protocol Price(BANK)
$0.03751
$0.03751$0.03751
0.00%
USD
Lorenzo Protocol (BANK) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Trump’s Crypto Gains Risk Backlash Post-Presidency, Ethereum Veteran Advises Urgency

Trump’s Crypto Gains Risk Backlash Post-Presidency, Ethereum Veteran Advises Urgency

The post Trump’s Crypto Gains Risk Backlash Post-Presidency, Ethereum Veteran Advises Urgency appeared on BitcoinEthereumNews.com. President Trump’s administration
Share
BitcoinEthereumNews2025/12/21 01:29
China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise

China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise

The post China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise appeared on BitcoinEthereumNews.com. China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise China’s internet regulator has ordered the country’s biggest technology firms, including Alibaba and ByteDance, to stop purchasing Nvidia’s RTX Pro 6000D GPUs. According to the Financial Times, the move shuts down the last major channel for mass supplies of American chips to the Chinese market. Why Beijing Halted Nvidia Purchases Chinese companies had planned to buy tens of thousands of RTX Pro 6000D accelerators and had already begun testing them in servers. But regulators intervened, halting the purchases and signaling stricter controls than earlier measures placed on Nvidia’s H20 chip. Image: Nvidia An audit compared Huawei and Cambricon processors, along with chips developed by Alibaba and Baidu, against Nvidia’s export-approved products. Regulators concluded that Chinese chips had reached performance levels comparable to the restricted U.S. models. This assessment pushed authorities to advise firms to rely more heavily on domestic processors, further tightening Nvidia’s already limited position in China. China’s Drive Toward Tech Independence The decision highlights Beijing’s focus on import substitution — developing self-sufficient chip production to reduce reliance on U.S. supplies. “The signal is now clear: all attention is focused on building a domestic ecosystem,” said a representative of a leading Chinese tech company. Nvidia had unveiled the RTX Pro 6000D in July 2025 during CEO Jensen Huang’s visit to Beijing, in an attempt to keep a foothold in China after Washington restricted exports of its most advanced chips. But momentum is shifting. Industry sources told the Financial Times that Chinese manufacturers plan to triple AI chip production next year to meet growing demand. They believe “domestic supply will now be sufficient without Nvidia.” What It Means for the Future With Huawei, Cambricon, Alibaba, and Baidu stepping up, China is positioning itself for long-term technological independence. Nvidia, meanwhile, faces…
Share
BitcoinEthereumNews2025/09/18 01:37
Academic Publishing and Fairness: A Game-Theoretic Model of Peer-Review Bias

Academic Publishing and Fairness: A Game-Theoretic Model of Peer-Review Bias

Exploring how biases in the peer-review system impact researchers' choices, showing how principles of fairness relate to the production of scientific knowledge based on topic importance and hardness.
Share
Hackernoon2025/09/17 23:15