In September 2023, Forward Bank, a Wisconsin-based financial services provider, experienced a significant data breach that compromised the sensitive information of its customers. The breach, which was not announced until November 2023, exposed customer's social security numbers, financial account details, and more. Consequently, a class action lawsuit was filed against Forward Bank, alleging that the bank failed to implement sufficient cybersecurity measures to prevent such a data breach. The lawsuit culminated in Forward Bank agreeing to a $1.185 million class action settlement, though the bank has not admitted to any wrongdoing. Beneficiaries of the settlement include individuals who received a data breach notice from the bank, indicating that their information may have been compromised. These individuals can claim up to $5,000 for documented out-of-pocket expenses related to the breach, such as identity theft damages, fraud-related losses, and various other costs. Those who did not experience any documented losses are also eligible for a pro rata cash payment from the settlement. This case underscores the importance of data security in the financial sector and the potential costs for failures to adequately safeguard customer information.