Class Actions Accuse Truist Bank of Negligence Leading to October Data Breach | Law.com (2024)

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Class Actions Accuse Truist Bank of Negligence Leading to October Data Breach | Law.com? ›

Truist Bank was hit with two federal class actions last week arising from a data breach that occurred in October 2023, alleging the bank failed to prevent the exposure of individuals' personal identifying information.

The Truist Bank Class Action Lawsuit is Stephen Ruffin v. Truist Bank, Case No. 3:24-cv-00582 in the U.S. District Court for the Western District of North Carolina.

Anyone who has been affected by a data breach may have the right to file a lawsuit, including individuals, businesses, or organizations that have suffered harm due to the breach.

Truist Bank, a leading U.S. commercial bank, confirmed last week that its systems were breached in an October 2023 cyberattack after a threat actor posted some of the company's data for sale on a hacking forum.

Truist is FDIC insured. You'll be able to deposit up to $250,000 in an individual bank account and your money will be secure.

Call. 844-4TRUIST (844-487-8478) to report a lost or stolen Truist credit card.

If your sensitive data was breached, you may be entitled to (approximately): Medical data breach £3,000 - £5,000. Bank or financial information breach £3,000 - £7,000. Any of above with severe impact £8,000 - £30'000*

To address any harm you endured, the law gives you the right to seek financial compensation following a data breach. You can and should seek legal recourse from a company that exposed your data, and you can file a lawsuit to obtain payment for your losses.

Data breach lawsuits

Plaintiffs typically seek damages for unauthorized charges, damage to credit, cost of credit monitoring, cost of replacement credit cards, time and expenses incurred to investigate, and emotional distress.

Is Truist Bank safe from collapse? Truist Bank was rated as "stable" by S&P, Moody's, Fitch, and DBRS Morningstar, meaning it's likely safe from collapse.

What bank is the most secure from hackers? ›

Bank of America is just one place below JPMorgan Chase on both the 2023 G-SIBs list and the Federal Reserve's list of the largest U.S. banks, which is why it was chosen in our research as one of the safest banks. The bank's security features also helped it score highly.

What happened. Truist Bank, a top 10 commercial bank in the US, recently confirmed that its network was breached in October 2023. The confirmation follows a malicious actor, known as Sp1d3r, posting some of Truist's data on an online hacking forum.

Truist Financial's odds of distress is over 50% at the present time. It has a moderate probability of going through some financial straits in the next 2 years. Probability of distress shows the probability of financial torment over the next two years of operations under current economic and market conditions.

Fitch Downgrades Truist Financial to 'A'/Stable on Sale of Insurance Holdings. Fitch Ratings - New York - 21 Feb 2024: Fitch Ratings has downgraded Truist Financial Corporation's (TFC) and Truist Bank's Long-Term Issuer Default Rating (IDR) to 'A' from 'A+' following the announced sale of Truist Insurance Holdings.

Once the claim is initiated, we generally issue a provisional credit within one to three business days*. It'll be for the related amount in dispute, plus any associated interest or fees. *For debit cards – In limited instances, it may take up to 10 business days to receive provisional credit.

At the time, Truist did not disclose the number of people who would be laid off, but said the actions would happen between the third quarter of 2023 and the first quarter of 2024. That plan also includes consolidating leadership roles for fewer layers of management.