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Truist Bank Sued Over Data Breach: What Customers Need to Know

By TheFinanceBase Team 5 min read

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Yes. Truist Bank faced at least two proposed federal class actions after reporting that an unauthorized party accessed a small number of employee accounts and that some affected files may have contained customer information. The lawsuits were filed in June 2024, but the complaints are allegations—not findings that Truist was liable—and the available sources do not verify a final settlement, judgment, certified class, or breach-payment program as of August 18, 2026.

What happened at Truist?

According to Truist’s breach notice filed with Massachusetts, an unauthorized party accessed a small number of Truist employee accounts around October 27, 2023. Truist investigated and took containment steps. On May 29, 2024, it determined that some affected files contained personal information. Truist sent notices in June 2024 and reported the incident to state authorities.

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The notice describes unauthorized access to employee accounts and affected files. It does not establish that Truist’s core banking network or every customer account was hacked.

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What information may have been exposed?

The notice identified information that may have included:

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  • Dates of birth
  • Financial-account numbers
  • Loan-transaction amounts
  • Loan balances

Not every affected person necessarily had every listed data element exposed. The notice also said Truist had found no fraud linked to the incident when it issued the notice.

How many people were affected?

The sources available for this article do not establish a reliable nationwide total. A Massachusetts 2024 breach report lists 20 Massachusetts residents for Truist Financial Corporation’s June 11, 2024 filing. That is a state-specific figure, not a nationwide affected-person count.

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Who sued Truist?

Boyd v. Truist Bank

Marshall Boyd filed a proposed class action on June 21, 2024, in the U.S. District Court for the Western District of North Carolina. The complaint alleges that Truist failed to use reasonable cybersecurity measures and that sensitive customer information was compromised. It also alleges privacy, mitigation, and identity-theft-risk injuries.

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Aronstein v. Truist Bank

The Aronstein plaintiff filed another proposed class action in the same federal district on June 25, 2024. The complaint alleges losses involving time spent reviewing the incident, monitoring accounts, and investigating credit-monitoring or identity-protection services.

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These were proposed class actions. Filing a complaint does not automatically create a certified class, establish liability, or prove that every reported loss was caused by the incident. The available sources do not establish that these were the only lawsuits filed.

What do the lawsuits allege?

The complaints generally allege that Truist collected and maintained sensitive customer information but failed to implement reasonable safeguards, adequately prevent unauthorized access, or provide sufficient remediation. Plaintiffs also assert theories involving privacy, negligence, consumer protection, exposure of information, lost time, mitigation expenses, and an increased risk of identity theft.

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  • 3 minute runtime and 30 minute cool down; if unit goes beyond max run time, it automatically shuts off to prevent overheating
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Those statements are allegations by the plaintiffs. They are not admissions by Truist or findings by a court.

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Was there confirmed fraud or identity theft?

Truist’s notice said it had found no fraud linked to the incident at the time of notification. Individual plaintiffs may allege suspicious activity, fraudulent charges, spam, or attempted withdrawals, but those reports do not by themselves prove that the Truist incident caused them.

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It is useful to distinguish three questions:

  • Exposure: Whether information was accessed or acquired.
  • Misuse: Whether someone used the information fraudulently.
  • Causation: Whether evidence connects a particular fraudulent event to this incident.
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Is there a Truist data-breach settlement?

The sources available for this article do not verify a final settlement or payment program for the Truist data-breach lawsuits. Receipt of a breach notice does not guarantee compensation or prove that someone is included in either complaint.

Do not confuse this matter with Truist’s unrelated TCPA settlement concerning prerecorded calls, or with separate overdraft-fee litigation described in a Truist SEC filing. Neither concerns the data-security incident.

Is this the same as the FBCS breach?

No. Truist also sent notices concerning a security incident at Financial Business and Consumer Solutions, or FBCS, a third-party debt collector that serviced Truist accounts. According to the FBCS notice, that incident involved the vendor’s network and did not affect Truist’s own systems or network.

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Issue Truist employee-account incident FBCS vendor incident
System involved Some Truist employee accounts and affected files FBCS’s network
Approximate timing Unauthorized access around October 27, 2023 FBCS reported unauthorized access discovered February 26, 2024
Truist’s characterization Some files may have contained customer information Truist said its own systems were not impacted
Legal treatment The subject of the Boyd and Aronstein complaints A separate vendor-related incident

A person who received an FBCS notice may not be part of the group described in the Boyd or Aronstein complaints.

What should affected customers do?

  1. Keep the notice. Save the letter or email, incident date, reference number, and any enrollment instructions.
  2. Use offered protection. If the notice provides free credit monitoring or identity protection and enrollment remains open, consider using it.
  3. Review accounts. Check Truist and other financial accounts for unfamiliar withdrawals, transfers, charges, address changes, or new-account notices.
  4. Consider a credit freeze. A freeze with Equifax, Experian, and TransUnion generally provides stronger protection against new-account fraud than monitoring alone. Monitoring sends alerts; it does not prevent every type of fraud. A freeze does not close existing accounts or stop misuse of already-issued cards.
  5. Report suspected fraud promptly. Contact Truist, the relevant bank or card issuer, and the appropriate identity-theft reporting channel.
  6. Document losses. Keep records of fraudulent charges, replacement-card fees, other expenses, correspondence, and time spent responding.
  7. Watch for phishing. Scammers may impersonate Truist, attorneys, settlement administrators, or credit bureaus. Do not provide passwords, one-time codes, or banking details in response to an unexpected message.
  8. Do not pay an upfront fee to file a class-action claim. Legitimate claims notices generally explain the process without requiring payment simply to submit a claim.
  9. Seek individualized legal advice when appropriate. A lawyer may be useful if you experienced specific financial loss, identity theft, or account takeover. Exposure alone does not guarantee compensation, and arbitration provisions or other account-agreement terms may affect an individual claim.

What this means for Truist customers

Truist customers received notices about a real reported security incident, and at least two plaintiffs filed proposed class actions. But the evidence currently described does not establish that all customers were affected, that every listed data element was exposed, that reported fraud was caused by the incident, or that compensation is available. Preserve your notice, secure your accounts, and treat any future lawsuit or settlement communication independently rather than assuming it applies to you.

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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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