Evolve Bank & Trust agreed to pay nearly $11.9 million to settle a class action over its 2024 data breach, and checks to approved claimants went out on March 30, 2026. A federal judge in the Western District of Tennessee gave the deal final approval on December 15, 2025. If you filed a claim and received a check, you have until September 28, 2026, to cash or deposit it before it becomes void.1Evolve Settlement. Evolve Settlement
Who the Settlement Covered
The breach reached far beyond Evolve’s direct customers. Evolve served as a behind-the-scenes banking partner for a number of fintech companies, and users of those services were swept in too. Wise, Affirm, Mercury, EarnIn, Marqeta, Melio, Bilt Rewards, Yieldstreet, and Branch all acknowledged that their users’ data may have been exposed through Evolve’s systems.2American Banker. A Data Breach at Evolve Is Hurting Its Many Fintech Partners
The compromised files included names, Social Security numbers, dates of birth, contact information, Evolve account numbers, and ACH transaction records with financial account and routing numbers. A smaller group of people also had debit card numbers exposed.3Evolve Bank & Trust. Cybersecurity Incident4Security Affairs. Evolve Bank Data Breach Impacts 7.6M People5American Banker. Evolve Bank Settles for $11.9 Million Over 2024 Data Breach
What Claimants Could Receive
Evolve agreed to pay $11,858,259.98 into a non-reversionary fund, meaning unclaimed money stays with the class rather than going back to the bank. Evolve did not admit wrongdoing.6ClassAction.org. Evolve Bank and Trust Settlement Agreement7Top Class Actions. Evolve Bank & Trust Data Breach Class Action Settlement
Class members could pick one of two cash options. The first was reimbursement of documented losses up to $3,000, covering out-of-pocket costs like identity theft expenses or fraudulent charges, backed by police reports, bank statements, or credit reports. The second was a flat cash payment estimated at $20, meant for people without documented losses and subject to adjustment up or down depending on how many claims came in.
All class members could also elect one year of credit monitoring with real-time alerts and up to $1 million in identity theft insurance, valued at $110 per person.6ClassAction.org. Evolve Bank and Trust Settlement Agreement8Evolve Settlement. Frequently Asked Questions The court also approved $3,952,753.33 in attorneys’ fees, one-third of the fund, and $2,500 service awards for each of the 14 class representatives.9Good Jobs First. In Re Evolve Bank & Trust Customer Data Security Litigation Final Approval Order
Key Dates and Payment Status
The consolidated case, In Re: Evolve Bank & Trust Customer Data Security Breach Litigation, MDL No. 2:24-md-03127, was overseen by Judge Sheryl H. Lipman.6ClassAction.org. Evolve Bank and Trust Settlement Agreement10CourtListener. Page v. Evolve Bank & Trust8Evolve Settlement. Frequently Asked Questions
Checks were mailed on March 30, 2026. They must be cashed or deposited before September 28, 2026, or they become void.1Evolve Settlement. Evolve Settlement If you have questions about a claim or a check, Kroll Settlement Administration is the court-appointed administrator and can be reached at (833) 421-7300, Monday through Friday, 8 a.m. to 8 p.m. Eastern.
If You Received a Settlement Email
Many recipients questioned whether the settlement notification emails were legitimate. That skepticism was reasonable: the messages arrived after a data breach, from an unfamiliar address, and not from Evolve itself. The original breach notifications came from evolvebank@cyberscout.com, while the settlement notices came from Kroll’s systems on behalf of the court.3Evolve Bank & Trust. Cybersecurity Incident Evolve had earlier warned that any email about the breach from an address other than its two official CyberScout addresses was not legitimate, which added confusion when the separate settlement emails later arrived from a different administrator.
The official settlement website, evolvesettlement.com, and Kroll’s toll-free number are the ways to verify any communication about the case before clicking links or providing information.1Evolve Settlement. Evolve Settlement
This Settlement Is Not the Synapse Payout
If you lost access to funds held through the fintech Synapse Financial Technologies, that is a separate matter from this data breach settlement. Synapse filed for Chapter 11 in April 2024, and a trustee later estimated that between $60 million and $95 million in customer funds remained missing across banks in the Synapse ecosystem.11Fintech Business Weekly. CFPB Allocates $46 Million to Synapse/Evolve In November 2025, the Consumer Financial Protection Bureau allocated roughly $46.2 million from its Civil Penalty Fund to compensate affected Synapse/Evolve end users; as of late 2025 those funds had not yet been distributed. The $11.9 million data breach settlement does not cover missing Synapse deposits, and the two payouts run on different tracks.