Published
February 16, 2026
Updated
July 10, 2026
The Evolve Bank & Trust data breach settlement received final approval, and the claim window has closed. Here is what was offered, what the breach exposed, and when payments could arrive.
Latest Update
The Evolve Bank & Trust data breach settlement has received final court approval. The Final Approval Hearing was held on November 14, 2025, and the Final Approval Order was entered on December 15, 2025. The claim window is now closed — the deadline to file was October 30, 2025.If you filed a claim before the deadline, payments will be processed after any potential appeals are resolved. If you did not file a claim, you can no longer receive cash or credit monitoring from this settlement.
Status
Claims Closed
Final approval granted December 15, 2025
Claim Deadline
October 30, 2025 (Passed)
Settlement Offered
$20 cash or up to $3,000
plus 1 year of credit monitoring with $1M identity theft insurance
Data Exposed
Names, SSNs & bank account numbers
February & May 2024 breach
What Happened?
In February and May 2024, hackers gained unauthorized access to the computer systems of Evolve Bank & Trust and obtained files containing the personal information of customers. The compromised data included names, dates of birth, Social Security numbers, driver's license numbers, bank account numbers, and contact information.What makes this breach unusual is who Evolve Bank is and how many people it touches without them even knowing.
What Is Evolve Bank & Trust?
Evolve Bank & Trust is a Tennessee-based bank, but it's not the kind of bank most people walk into. Evolve's bigger role is as a "banking-as-a-service" (BaaS) provider — meaning it's the bank that operates behind the scenes for many fintech companies and apps.When you sign up for a financial app — something that lets you send money, get a debit card, take out a loan, or open a savings account — there's usually a traditional bank behind it that actually holds the money and processes the transactions. Evolve was that bank for a number of fintech companies (referred to in the settlement as "Evolve FinTechs").
This is why many people affected by this breach had never heard of Evolve Bank. They signed up for a fintech app, provided their personal information, and that information was shared with Evolve as part of the banking relationship. When Evolve's systems were breached, all of that data was exposed — regardless of whether the person had a direct relationship with Evolve.
Who Was Affected?
The settlement class included all people in the United States who provided their personal information to Evolve Bank & Trust, directly or indirectly, and whose information was included in the files affected by the breach. "Indirectly" is the key word — it covers people whose data reached Evolve through a fintech app or partner company.What Did the Settlement Offer?
Settlement class members who filed a valid claim by October 30, 2025 were eligible for the following benefits:1 year of credit monitoring with real-time alerts and up to $1,000,000 in identity theft insurance. The settlement valued this benefit at $110 per person per year. This was available to all class members.
In addition to credit monitoring, each class member could choose one cash option:
Cash Payment A: Up to $3,000 for documented out-of-pocket losses related to the breach. Required supporting documentation like receipts, bank statements, or correspondence.
Cash Payment B: A flat estimated $20 cash payment. No proof of losses needed.
Both cash amounts were subject to pro rata adjustment — meaning they could increase if fewer people filed or decrease if the fund ran short.
Timeline
• Breach: February and May 2024
• Opt-Out Deadline: October 15, 2025 (passed)
• Objection Deadline: October 15, 2025 (passed)
• Claim Deadline: October 30, 2025 (passed)
• Final Approval Hearing: November 14, 2025 at 2:00 PM CT
• Final Approval Order: December 15, 2025
When Will Payments Arrive?
The exact payment date has not been publicly announced. Payments are processed after the settlement becomes final and all potential appeals are resolved. If you filed a claim, check the settlement website for updates on payment timing.Case Information
The case is 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.Defendant: Evolve Bank & Trust.
Settlement Administrator: Kroll Settlement Administration LLC.
Settlement Website: EvolveDataSettlement.com
Sources
• Settlement Website: EvolveDataSettlement.com• Final Approval Order, In Re: Evolve Bank & Trust Customer Data Security Breach Litigation, MDL No. 2:24-md-03127-SHL-cgc (W.D. Tenn.), entered December 15, 2025
About This Article
The claim deadline for this settlement has passed. This article is provided as a news update for people tracking the Evolve Bank & Trust data breach settlement. OpenClassActions.com is a consumer news site and is not the settlement administrator or a law firm.
For more class actions keep scrolling below.
Case Title
In re Evolve Bank & Trust Customer Data Security Breach Litigation
Case Number
MDL No. 2:24-md-03127-SHL-cgc
Court
U.S. District Court, Western District of Tennessee
Final Approval Hearing
Final approval granted December 15, 2025
Official Website
Evolve Data Settlement.com
