In 2021, Capital One agreed to a $190 million settlement in a class action lawsuit stemming from a major data breach in 2019. The breach compromised the personal information of approximately 98 million individuals who had applied for Capital One credit cards. The settlement seeks to provide compensation to those impacted by the breach, including cash payments for out-of-pocket losses and other remedies.
What is the Background of the Capital One Bank Settlement?
A devastating data breach at Capital One in 2019 exposed the sensitive personal information of millions of U.S. residents, including names, addresses, bank account numbers, and Social Security Numbers. In the aftermath, a class action lawsuit was filed, culminating in a $190 million settlement in 2021. This settlement seeks to provide redress for the financial harm and emotional suffering inflicted on the victims of the breach.
What is the Purpose of Settlement?
The settlement seeks to provide financial relief and protection to those impacted by the breach, including:
- Reimbursement for out-of-pocket losses
- Credit monitoring services
- Reimbursement for specific expenses
- Identity theft protection
This settlement aims to address the financial and personal consequences of the breach.
How to Check Class Action Payment Status?
Payments for the Capital One class action settlement began on September 28, 2023, and continue to be distributed to qualified claimants. Eligible individuals receive their compensation in the form of digital payments, with the settlement administrator overseeing the process. The amount of compensation varies based on individual out-of-pocket losses, with a maximum payment of $25,000 per claimant.
What is the process for claims compensation?
Compensation Process:
- Eligible class members who submitted valid and timely claims are qualified to receive compensation.
- Payment Distribution: Verified claimants are receiving digital payments.
- Ongoing Payments: Claimants who have not yet received their payments will have an additional opportunity to have their payment transferred
Who is Eligible for Capital One Bank Settlement 2024?
Eligibility Criteria for the Capital One Bank Settlement:
To qualify, individuals must:
1. Be a resident of the United States
2. Have had their personal information (name, address, bank account number, and Social Security Number) compromised in the Capital One data breach
3. Received a notification about potential eligibility for the settlement
4. Filed a valid claim by the deadline of November 27, 2023
If you meet these criteria, you may be eligible for compensation.
What is the Verification Process of Capital One Bank Settlement 2024?
Verified eligible individuals will receive their settlement compensation via direct deposit. Furthermore, all members of the settlement class will be provided with credit assistance, irrespective of their claim status.
How to Claim For Capital One Bank Settlement 2024?
1. Notification: Check your inbox for a notice about your eligibility.
2. Submit Claim: Head to the designated portal to file a valid claim before the deadline.
3. Verification: The settlement administrator will review and verify your claim.
4. Payment Distribution: Once verified, you will receive your digital payment!
Required Documentation
1. Personal Information
- Proof of identity (e.g. driver’s license, passport)
- Proof of residency (e.g. utility bill, lease agreement)
2. Proof of Losses
Documentation of out-of-pocket expenses related to the data breach (e.g. receipts, bank statements)
3. Claim Submission
Completed claim form submitted through the official online portal
What is the Expected Payment Schedule?
While the exact payment dates for 2024 have not been officially confirmed, eligible individuals who successfully submitted their applications and paperwork by the deadline can expect to receive their payments shortly. Before receiving their settlement amount, eligible recipients will receive an email notification with further details.
The Capital One Bank Settlement 2024 provides a significant opportunity for individuals impacted by the 2019 data breach to receive substantial compensation. With a $190 million settlement fund, eligible individuals can claim up to $25,000 to cover their losses. To ensure you receive your rightful compensation, understand the eligibility criteria, claim process, and payment dates. Don’t miss out on this chance to recover your losses!
What is the Capital One Settlement Payment Date 2024?
- Deadline: Nov 27, 2023
- Payment distribution started: Sep 28, 2023
- Settlement amount: $190 million
- Eligible recipients: Up to $25,000 for lost time/pocket expenses
- Status: Payments pending for valid claims submitted before deadline
Lawsuit appeal may cause delays, but eligible individuals will receive payment soon (exact date TBA), preceded by an email notification.
What is the Capital One Bank Settlement 2024?
Affected individuals may receive compensation of up to $25,000 each to cover out-of-pocket expenses related to the 2019 data breach, as part of the settlement.
Who is eligible for the Capital One Bank Settlement?
Eligible: U.S. residents who had personal info breached in 2019 and filed a valid claim by 27 November 2023.
How much compensation can eligible individuals receive?
Each eligible individual may be entitled to receive a maximum award of $25,000.
When will the payments be distributed?
Payment distribution began on September 28, 2023, and will continue for verified claimants on an ongoing basis.
Where can I submit my claim?
Submit your claim through the online portal specified in your settlement notice. You can also check the official settlement website for updates.
What should I do if I missed the claim deadline?
Although the November 27, 2023 deadline has passed, there may be limited opportunities to submit late claims, which will be reviewed on a case-by-case basis.
