Data breaches have increasingly become a severe concern for consumers worldwide, putting sensitive personal information at risk. One significant recent incident, the Evolve Bank & Trust data breach, has prompted a $3.78 million class action settlement. If you are among those affected, you could receive substantial compensation and free credit monitoring services. At Sparrow, we’re committed to helping consumers stay informed about data breaches and their rights. You can explore similar cases and settlements by visiting our data breach settlements site.
Table of Contents
- Background of the Evolve Bank & Trust Data Breach
- Who is Eligible for the Evolve Bank & Trust Settlement?
- What Benefits Can You Receive?
- How to Submit Your Claim
- Important Deadlines and Dates
- Frequently Asked Questions
- Why Consumer Protection Matters
- Conclusion
Background of the Evolve Bank & Trust Data Breach
In July 2024, Evolve Bank & Trust, a prominent financial institution headquartered in Arkansas, disclosed it suffered a significant data breach earlier in the year. The breach occurred in two phases—February and May 2024—and exposed sensitive customer data, including Social Security numbers, bank account details, names, and other critical personal information.
According to the allegations, Evolve Bank & Trust did not employ adequate cybersecurity measures that might have prevented this breach. As a result, affected consumers faced risks of identity theft, fraud, and other related damages. Promptly after the breach disclosure, consumers took legal action, resulting in a class action lawsuit. Evolve Bank & Trust, while not admitting liability, agreed to settle the lawsuit for over $3.78 million to resolve these claims.
For more insights on related cybersecurity events, see our article on the Byte Federal data breach class action settlement.
Who is Eligible for the Evolve Bank & Trust Settlement?
You may be eligible for benefits under the Evolve Bank & Trust data breach class action settlement if you meet the following criteria:
- You provided your private information to Evolve Bank & Trust directly or indirectly.
- Your personal information was included in files affected by the data breaches that occurred in February and May 2024.
If you’re unsure of your eligibility, check the official settlement website for more details.
What Benefits Can You Receive?
Eligible class members can receive multiple benefits from the settlement:
- Reimbursement for Documented Losses: You can claim up to $3,000 for documented out-of-pocket expenses related to the data breach, such as:
- Fraudulent charges
- Identity theft expenses
- Professional fees (e.g., attorney fees)
- Credit monitoring expenses
- Flat-Rate Payment: If you did not experience documented losses, you could still claim a flat-rate payment of $20.
- Free Credit Monitoring: All affected class members are eligible for one year of complimentary credit monitoring services, including:
- Real-time alerts
- Up to $1 million identity theft insurance
Explore how others have benefited from similar settlements in our guide to the UMR Insurance class action settlement.
How to Submit Your Claim
To benefit from the Evolve Bank & Trust settlement, you must submit a valid claim form by October 30, 2025. Follow these steps to submit your claim:
- Visit the official settlement website: EvolveSettlement.com to check eligibility.
- Fill out the claim form with the required personal information.
- Provide documentation for any claimed out-of-pocket expenses.
- Submit your claim online or via mail to the address provided below:
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
Phone: 833-421-7300
Important Deadlines and Dates
- Claim Submission Deadline: October 30, 2025
- Exclusion and Objection Deadline: October 15, 2025
- Final Approval Hearing: November 14, 2025
Ensure you file your claim timely to secure your settlement benefits. If you miss this deadline, you risk losing the opportunity for compensation.
Frequently Asked Questions
Do I need proof of expenses?
Yes, for reimbursement claims, you must provide documentation, such as bank statements, credit reports, police reports, or other relevant records.
What happens if I don’t file a claim?
If you do not submit a claim form, you will not receive any monetary benefits or credit monitoring, and you will lose the opportunity to pursue further legal action regarding this breach.
Can I exclude myself from the settlement?
Yes, but you must do so by October 15, 2025. Check the settlement website for instructions.
Why Consumer Protection Matters
The Evolve Bank & Trust data breach underscores the importance of stringent cybersecurity measures. Data breaches have far-reaching impacts, exposing consumers to financial losses and identity theft. Staying informed and proactive is crucial. At Sparrow, we regularly cover essential consumer protection topics, such as data privacy, cybersecurity, and related class action settlements. Read more on our post about how to file a class action claim with Sparrow.
Conclusion
The Evolve Bank & Trust data breach settlement offers consumers essential compensation and protection measures following a troubling breach of privacy. It’s vital to take prompt action by submitting your claim form before the October 30, 2025 deadline.
Protect your rights and ensure you receive the benefits you deserve. For further guidance and updates on similar class action settlements, visit Sparrow’s class action settlements site and stay informed about your legal options.
