Tri Counties Bank agreed to a $1.19 million settlement to resolve a class action arising from a February 2023 data security incident that allegedly exposed customers’ private information. Plaintiffs accused the bank of negligent data security practices, breach of contract and violations of statutory privacy laws; the bank denies wrongdoing but settled to avoid further litigation. Affected customers who received notice (mailed around Oct. 12, 2023) can file claims by April 21, 2026 for documented out-of-pocket losses up to $5,000, an alternative $100 cash payment, a $150 California statutory payment for qualifying residents, or expanded identity-theft monitoring and insurance for claimants who request it. The suit matters because it underscores the financial and reputational risks banks face when customer data is compromised and illustrates how settlements often prioritize consumer remediation over protracted litigation. It also fits a broader pattern of post-breach class actions against financial institutions, which intersect with federal safeguards like the Gramm-Leach-Bliley Act and state data-breach and privacy laws (including California’s strict standards), plus potential oversight from regulators such as the CFPB, FTC or state attorneys general. For the industry, the case reinforces the need for robust cybersecurity controls, timely breach notification, and clear consumer remedies to limit regulatory exposure and class action liability.