Startups scramble to assess fallout from Evolve Bank data breach

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TechCrunch 2d ago

Startups scramble to assess fallout from Evolve Bank data breach - TechCrunch

Quick Summary:

According to a statement by the Fed, examinations conducted in 2023 found that Evolve “engaged in unsafe and unsound banking practices by failing to have in place an effective risk management framework for those partnerships” with financial technology companies.

Affirm also alerted its customers in a post on X, writing that the Evolve breach “may have compromised some data and personal information” of Affirm customers.

Fintech-friendly Evolve Bank disclosed a data breach, saying it may have impacted customers and partners.