$3.78M Evolve Bank & Trust data breach class action settlement

Evolve Bank & Trust has agreed to pay more than $3.78 million as part of a class action lawsuit settlement to resolve claims it failed to protect consumers from a 2024 data breach.

The settlement benefits individuals who provided their private information to Evolve Bank & Trust and whose private information was included in files affected by the 2024 data breach.

In July 2024, Evolve Bank & Trust announced that it had been the victim of a data breach in February and May 2024. The breach reportedly compromised sensitive information, such as Social Security numbers and bank account numbers.

Consumers quickly took legal action against the bank, arguing that Evolve Bank & Trust could have prevented the breach through reasonable cybersecurity measures.

Evolve Bank & Trust is a financial institution based in Arkansas that offers banking services to both consumers and financial technology companies.

Evolve Bank & Trust has not admitted any wrongdoing but agreed to this $3.78 million class action settlement to resolve the allegations.

Under the terms of the Evolve Bank & Trust data breach settlement, class members can receive a cash payment and credit monitoring.

Class members who experienced documented losses as a result of the data breach can receive up to $3,000 in reimbursement. These payments may include out-of-pocket expenses, such as fraudulent charges, identity theft expenses and more.

Class members who did not experience documented losses can receive a flat-rate payment of $20.

All class members, regardless of whether they experienced documented losses, can receive one year of free credit monitoring. This service includes real-time alerts and up to $1 million in identity theft insurance.

The deadline for exclusion and objection is Oct. 15, 2025.

The final approval hearing for the Evolve Bank & Trust data breach settlement is scheduled for Nov. 14, 2025.

To receive settlement benefits, class members must submit a valid claim form by Oct. 30, 2025.

Who’s Eligible

Consumers who provided their private information to Evolve Bank & Trust directly or indirectly and whose information was included in files affected by the 2024 data breach.

Potential Award

Up to $3,000 in documented losses and/or a flat cash payment of $20, plus one year of credit monitoring.

Proof of Purchase

Documentation of losses, such as bank statements, credit reports, police reports and so forth.

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

10/30/2025

Case Name

In re: Evolve Bank & Trust Customer Data Security Breach Litigation, MDL No. 2:24-md-03127-SHL-cgc, in the United States District Court for the Western District of Tennessee

Final Hearing

11/14/2025

Settlement Website

EvolveSettlement.com

Claims Administrator

In re Evolve Bank & Trust Customer Data Security Breach Litig.
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-5391
833-421-7300

Class Counsel

J. Gerard Stranch IV
Grayson Wells
STRANCH, JENNINGS & GARVEY PLLC

Defense Counsel

Aravind Swaminathan

ORRICK, HERRINGTON & SUTCLIFFE LLP