Federman & Sherwood Investigates Evolve Bank & Trust for Data Breach

The law firm of Federman & Sherwood has initiated an investigation into Evolve Bank & Trust with respect to their recent data breach. In late May 2024, Evolve Bank & Trust identified that some of its systems were not working properly. While it initially appeared to be a hardware failure, we subsequently learned it was unauthorized activity. We engaged cybersecurity specialists to investigate and determined that unauthorized activity may have been the cause. We promptly initiated our incident response processes, stopped the attack within days, and have seen no new unauthorized activity since May 31, 2024. We engaged outside specialists to investigate what happened and what data was affected, as well as a firm to help us restore our services. We reported this incident to law enforcement. The information that may have been accessed is as follows: names, Social Security numbers, bank account numbers, and contact information were affected for most of our personal banking customers, as well as customers of our Open Banking partners. We have now learned that personal information relating to our employees was also likely impacted.

If you wish to discuss this action, obtain further information, and/or participate in this litigation, please contact Tiffany Peintner either by email at trp@federmanlaw.com or visit our firm’s website www.federmanlaw.com.

Since being made aware of the incident the evening of June 25, 2024, we immediately began an investigation to determine if any Affirm consumer information had been compromised, and we are continuing to look into this.

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