Updated on February 20, 2024
This article provides information on the Capital One Bank Settlement for 2024, including details on payment status, eligibility, claim process, and payment date. In 2021, Capital One settled a class action lawsuit for $190 million following a data breach in 2019, providing federal compensation to those who suffered financial losses due to the breach. In 2024, settlement funds are allocated for cash payments to cover out-of-pocket losses incurred during defense services. Eligible recipients will receive $25,000 per person in compensation, with payments issued via email. For further details on the Capital One Bank Settlement 2024, including payment status updates, please continue reading.
Capital One Bank Settlement 2024
In July 2019, an unauthorized hacker gained access to the personal information of around 98 million individuals who had applied for Capital One credit cards. This security breach had significant repercussions, leading to a class action settlement aimed at addressing the aftermath of the incident. Americans involved in the Capital One Bank Settlement have been eligible for payments since September 28, 2023.
The appointed administrator overseeing the settlement has begun disbursing payments to eligible recipients. Comprehensive measures have been implemented to ensure that affected individuals receive compensation promptly and with assurance. In addition to monetary compensation, eligible individuals will also receive benefits such as credit monitoring, reimbursement for certain expenses, and identity theft protection, enhancing the support provided by the settlement.
Class Action Payment Status
In 2024, the administration of the Capital One class action settlement is distributing payments to class members who have filed valid, timely claims related to the data breach. Each eligible claimant is entitled to receive $25,000 USD per person in compensation. Payments are processed digitally through the settlement administrator, ensuring that individuals who meet the requirements promptly receive their compensation.
The Capital One Bank Settlement lawsuit was filed on behalf of approximately 98 million people who suffered losses. The Federal company has initiated the claims process for affected individuals to seek restitution. The Capital One class action payments began on December 27, 2023, with eligible individuals able to submit their forms through the designated portal. For claimants who have not yet received their payments, there will be another opportunity provided to facilitate the transfer of funds.
Capital One Bank Settlement Eligibility
To be eligible for the Capital One Settlement, individuals must meet federal eligibility criteria as US residents whose personal details were compromised in the data breach. Those residing in the US whose information, including name, address, bank account number, and Social Security Number, was accessed during the Capital One data breach, will be entitled to the settlement amount.
Individuals who have received notice informing them of their potential eligibility for the Capital One Bank Settlement and have filed a valid and timely claim before November 27, 2023, are eligible for compensation. Once verified, eligible individuals will receive their payment via direct deposit. Additionally, all members of the settlement class, regardless of the nature of their claim, will receive credit assistance as part of the settlement agreement.
Capital One Settlement Payment Date 2024
The deadline for receiving the Capital One Bank Settlement payment was November 27, 2023, with the leading administrator initiating distribution from September 28, 2023. The total settlement amount is 190 million USD, and eligible recipients are offered a payment of 25,000 USD each. This payment will be made to every class member who has filed a valid claim for their incurred expenses or losses.
The lawsuit filers have won their appeal, potentially causing a delay in the payout process. While the claim amount remains unsettled for many months, eligible individuals who submitted their paperwork and applications before the deadline will still receive their settlement sum. The delivery date for the Capital One Bank Settlement payment has not yet been announced, but qualified recipients will soon be notified. Before receiving the amount, eligible applicants will receive an acknowledgment email.