Merchants Bank Data Breach Lawsuit Investigation
Did Merchants Bank just send you a data-breach notice? Over 6,000 customers’ sensitive details may now be in the wrong hands. Find out how to protect yourself and whether you can pursue compensation.
What Happened?
According to regulatory filings, an unauthorized party briefly accessed a Merchants Bank employee’s email account on September 11, 2024. The intrusion wasn’t discovered until February 24, 2025, after which the bank launched a forensic investigation with outside cybersecurity specialists.
By March 25, 2025, impacted customers began receiving written notices, and the incident was formally reported to the Maine Attorney General on April 10, 2025.
Timeline at-a-Glance
- 09/11/2024 – Unauthorized email-account access occurs.
- 02/24/2025 – Breach discovered by Merchants Bank.
- 03/25/2025 – Written notices mailed to customers.
- 04/10/2025 – Disclosure filed with Maine Attorney General.
What Information Was Exposed?
The compromised mailbox contained personal information for 6,113 individuals nationwide, including at least two Maine residents. Data elements may have included:
- Full names
- Social Security numbers
- Dates of birth
- Mailing addresses
- Government-issued identification numbers
- Medical or health-related information
- Financial account details
Merchants Bank states it has no evidence that the data has been misused; however, stolen personal information can surface months—or even years—later on underground markets.
Complimentary Credit & Identity Monitoring
To mitigate risk, the bank is offering Experian IdentityWorks services that include:
- Credit monitoring and alerts
- Identity-restoration assistance
- Up to $1 million in identity-theft insurance
Enrollment instructions are contained in the mailed notification. Be sure to sign up before the deadline printed in your letter.
Your Legal Rights
Financial institutions have a legal duty to safeguard customer data. When that responsibility lapses, victims may be entitled to:
- Compensation for out-of-pocket expenses and time spent addressing fraud
- Coverage for credit-monitoring or identity-theft protection beyond the free period
- Statutory damages where permitted by state law
If you received a Merchants Bank breach notice, you can explore your options to join (or initiate) a class action seeking monetary relief and stronger data-security commitments.
Immediate Steps to Protect Yourself
- Enroll in the free Experian IdentityWorks program.
- Place a fraud alert or security freeze with the major credit bureaus.
- Monitor bank and credit-card statements for unfamiliar transactions.
- Order your free annual credit reports at AnnualCreditReport.com and dispute any errors.
- Report suspected identity theft to the Federal Trade Commission at IdentityTheft.gov.
FAQ: Merchants Bank Data Breach
How do I know if my data was compromised in the Merchants Bank breach?
The bank mailed written notices on March 25 — check your mail for an official letter. If your address has changed, contact Merchants Bank to confirm.
What should I do if I lost my Merchants Bank notice letter?
Call Merchants Bank’s customer-service line and request your unique enrollment code for the complimentary Experian services.
Is Merchants Bank offering any financial compensation?
Outside of free credit monitoring, the bank has not announced direct compensation. A class-action lawsuit may seek damages on behalf of affected customers.
Can I place a security freeze for free after the Merchants Bank data breach?
Yes. Federal law allows you to place, lift, or remove a credit freeze at no cost with Equifax, Experian, and TransUnion.
Will accepting identity-monitoring services waive my right to sue Merchants Bank?
No. Enrolling in complimentary monitoring does not affect your legal rights or ability to participate in a future lawsuit.
Need Help? Explore Your Options
If your personal information was exposed, legal professionals can assess your situation and explain potential paths to recovery. Acting promptly strengthens your chances of holding organizations accountable and securing restitution.