A US bank has agreed to pay up to $10,000 to customers affected by an alleged data breach that exposed personally identifying information.

According to a settlement administrator’s portal, The Bank of Canton will pay $300,000 to settle a lawsuit accusing the Canton, Massachusetts-based lender of negligent data security practices.

Class members in the lawsuit, defined as the existing, former and prospective clients of The Bank of Canton in the US impacted by the cybersecurity incident, will receive up to $2,500 for ordinary losses and up to $10,000 for extraordinary losses.

Claimants must provide documentation to prove the losses they suffered as a result of the data breach. Class members who choose not to file documentary evidence can opt for an alternative cash payment of $100.

Claims must be submitted by October 9th, with a final approval hearing for the settlement scheduled to be held in a Massachusetts court on October 21st. Payments will be made once the settlement is approved by a judge.

The Bank of Canton is settling the lawsuit a little over a year after the incident occurred. On or around May 27th of 2023, cybercriminals allegedly gained access to MOVEit Transfer, a file transfer software system used by a third-party service provider of the bank.

The lawsuit alleged the incident led to the sensitive data of the Bank of Canton’s customers, potentially including, account name, account number(s), and Social Security numbers being exposed. The lawsuit was subsequently filed in November of 2023.

Despite agreeing to settle, The Bank of Canton denies the allegations made in the lawsuit.

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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.

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A guaranteed income pilot program is launching in one US county to help those already enrolled in government aid programs pay for basic needs.

Contra Costa County in California will provide 178 people with up to $1,250 per month for 18 months, reports CBS News.

The program has just been approved by the Contra Costa County Board of Supervisors, which previously allocated $3.25 million in county funds and another $1 million in state funds for the effort. The program will be administered by the county’s Employment and Human Services Department.

Those eligible are from four specific populations: youth transitioning out of foster care, families with young children experiencing financial hardship, low-income seniors and people on probation returning to the community after incarceration.

Participants also need to be enrolled in county-sponsored programs to be eligible, such as CalWORKs. The first payments are expected to go out on January 15th.

Says Marla Stuart, director of the county’s Employment and Human Services Department,

“I think you can provide the most, the largest percent of the budget, to the benefits themselves if you don’t have to invest in administrative overhead, advertising, applications, determining eligibility and then managing the case throughout the period.”

Board chair Candace Andersen says the program is a pilot that may result in an expanded effort, noting there are more than 300,000 people in Contra Costa County on some form of government assistance.

“Most pilots are put in place to say, ‘Hey, does this work? Should we then expand it into a bigger program that might help even more people?’ And that’s what this is.”

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Commissioners in the second-most populous US county have green-lit large payments to residents who are struggling to make ends meet.

The Board of Commissioners in Cook County, Illinois has approved a program that will send $1,000 payments to selected households battling elevated property taxes amid a “substantial increase” in tax bills in recent years.

The Cook County Homeowner Relief Fund’s application process is expected to be launched in the summer.

“In order to be eligible, households must have an income at or below 100 percent of the Area Median Income for their respective household size.

Under these guidelines, for example, a four-person household making $119,900 or less would be eligible. Applicants must have also seen their property tax bill increase by at least 50 percent in any year since the 2021 tax year.”

The program, known as the Cook County Homeowner Relief Fund, has a total budget of $15 million. The homeowner relief fund, however, would reportedly cost $1.4 million to run, leaving $13.6 million to be distributed.

Public hearings were held with property owners beginning in September of 2024, before the approval of the Cook County Homeowner Relief Fund. According to Commissioner Bridget Gainer, the problem of ballooning property taxes in the Illinois county is severe.

“Property taxes are rising faster than homeowners’ ability to pay, forcing people to leave neighborhoods they love and undermining the best ability to build wealth – home ownership.”

The president of the Cook County Board, Toni Preckwinkle, says offering one-time payments to help in paying property taxes is, however, a stopgap measure while the leadership pursues a long-term solution.

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