Online Bank Varo Money Hit With Suit Over March Data Breach (1)

Online bank Varo Money Inc. failed to protect the personal information of thousands of customers whose information was exposed in a March data breach, a proposed federal class action said.

James Medlin alleged that Varo failed to comply with industry standards and breached its duties under federal and state law to implement adequate data-security measures, properly encrypt sensitive information, and provide timely and adequate notice of the breach.

Information exposed in the breach included names, addresses, email addresses, phone numbers, bank account numbers, and partial Social Security numbers, according to a complaint filed Tuesday in the US District Court for ...