$2.8M FinWise Bank Settlement Resolves Lawsuit Over 2024 Data Breach

New to ClassAction.org? Read our Newswire Disclaimer

FinWise Bank, FinWise Bancorp and American First Finance have agreed to a $2.8 million settlement to resolve a lawsuit that alleged the financial institutions failed to safeguard private information from a May 2024 data breach.

Don’t miss the next class action settlement deadline. Sign up for ClassAction.org’s free weekly newsletter.

The FinWise Bank class action settlement received preliminary approval from the court on July 1, 2026. Eligible to participate in the settlement are all living United States residents whose private information was affected by the May 2024 data breach, including all who were sent notice of the cyber incident.

Court documents state that as many as 668,000 people may be included in the settlement class.

The court-approved FinWise Bank class action settlement website can be found at FinWiseDataSettlement.com.

FinWise settlement class members who file a timely, valid claim form can receive up to $5,000 for documented out-of-pocket losses incurred due to the data breach. This benefit covers losses from identity theft or fraud and costs for credit reports, credit monitoring, freezing/unfreezing credit, long-distance telephone charges, postage, and more.

Class members must submit proof, such as receipts, to receive a documented-loss payment.

In lieu of a documented-loss payment, class members can submit a claim form to receive a pro rata cash payment, with no proof required.

Class members who were California residents at the time of the FinWise data breach may receive double the share of non-California class members due to state law.

The final amount of each class member’s cash payout will be determined based on the total number of valid claims filed, among other factors.

In addition, all class members can elect on their claim form to receive two years of three-bureau credit monitoring and identity theft insurance.

To submit a FinWise Bank settlement claim form online, class members can head to this page and enter the unique ID and PIN found on their copy of the settlement notice. Alternatively, class members can download a PDF claim form to print, complete and return by mail to the settlement administrator.

All FinWise Bank settlement claim forms must be submitted online or postmarked by October 29, 2026.

The court will determine whether to grant final approval to the FinWise settlement following a hearing on December 10, 2026. Settlement benefits will be distributed to class members only after the deal has received final approval and any appeals have been resolved.

The FinWise Bank class action lawsuit alleged that the Utah-based financial institution failed to implement reasonable cybersecurity safeguards to protect sensitive information from a data breach on or around May 31, 2024.

Court documents state that private information that may have been compromised during the cyber incident included full names, dates of birth, Social Security numbers, and customer account numbers.

Looking for current class action lawsuits to join? Check out ClassAction.org’s class action lawsuit list.