FinWise Bank Data Breach Lawsuit

FinWise Bank, a Utah-based financial institution, has disclosed a significant data breach involving unauthorized access to its systems. The breach, which occurred on May 31, 2024, involved a former employee who gained access to sensitive information after their employment had ended. This breach has impacted the personal data of individuals who had or applied for financial products such as installment loans, lease-to-own accounts, or retail installment sales agreements with FinWise Bank and its partner, American First Finance (AFF).

FinWise Bank’s Data Breach Investigation

On May 31, 2024, FinWise Bank learned of a security incident when a former employee accessed sensitive data after the termination of their employment. This unauthorized access specifically impacted data linked to American First Finance (AFF), with whom FinWise collaborates to offer installment loans to consumers. As part of their agreement, FinWise provides the funding for loans, while AFF handles the loan origination and servicing. Individuals who had loans, lease-to-own accounts, or retail installment sales agreements with AFF may have been affected by this breach.

Upon discovering the incident, FinWise immediately launched an investigation with the help of cybersecurity professionals. The company took swift action to analyze the situation and assess whether sensitive data had been compromised by the former employee. Following an in-depth forensic investigation and manual document review, FinWise confirmed that certain personal information had been accessed or potentially acquired by the unauthorized individual.

The breach was reported to the Texas Attorney General, with an update stating that as of July 29, 2025, notifications were sent to 689,000 individuals potentially affected by the incident. In the communication, FinWise emphasized their commitment to safeguarding customer data and outlined the steps being taken to mitigate further risks.

When Did This Breach Occur?

The data breach occurred on May 31, 2024. The breach was initially discovered shortly after it took place, and a thorough investigation followed to assess the extent of the damage. Notifications were then sent out to those affected, beginning on July 29, 2025.

What Information Was Breached?

The data breach exposed the following personal information of affected individuals:

• Full Name
• Address
• Social Security Number (SSN)
• Date of Birth

This data could potentially be used by unauthorized parties for identity theft or other forms of fraud. FinWise Bank has urged affected individuals to take action to protect themselves and their personal information.

What You Can Do

If you are among the individuals affected by the FinWise data breach, there are steps you can take to protect yourself:

1. Credit Monitoring: FinWise is offering 12 months of free credit monitoring and identity theft protection services to affected individuals. This service will help detect any misuse of your information and provide assistance in resolving potential identity theft issues.
2. Fraud Alert: Consider placing a fraud alert on your credit file. This will notify creditors to take extra steps to verify your identity before extending credit in your name.
3. Credit Freeze: You may also want to place a security freeze on your credit file. This prevents lenders from accessing your credit report, which makes it harder for fraudsters to open new accounts in your name.
4. Review Financial Statements: Regularly check your bank and credit card statements for any unusual activity or charges that you do not recognize.
5. Obtain Free Credit Reports: You are entitled to free annual credit reports from the three major credit bureaus. Check your credit reports for any signs of suspicious activity or accounts opened in your name without your permission.
6. Enroll in the Free Protection Service: Enroll in the identity theft protection services offered by FinWise to monitor any unauthorized activity and ensure your personal data remains safe.

By staying vigilant and taking these protective measures, you can help safeguard your personal information from further damage.

File a Data Breach Lawsuit Against FinWise Bank