Updated on January 5, 2024
If you reside in the US, it’s important to be aware of the Capital One Settlement 2024: Details on Settlement Amount and Eligibility Criteria.
Details on Capital One Settlement in 2024
The frequency of cyberattacks has surged in recent times, leading to significant financial losses for many. These crimes are skillfully orchestrated by attackers who exploit and gather extensive user data. Incidents of such attacks are on the rise in the US, with hackers having unauthorized access to the data of 98 million customers.
The Capital One Settlement 2024 provides compensation to individuals who suffered financial losses due to a system hacking incident. This stems from a class-action lawsuit initiated by American consumers against Capital One following a data breach that affected 100 million people in 2019. The settlement, finalized in December 2021, amounts to $190 million.
This article delves into the details of the Capital One Settlement 2024, covering the settlement amount, eligibility criteria, and other essential information.
Exploring the Capital One Settlement
Individuals who have incurred financial losses due to system hacks can file a Capital One Settlement Claim for 2023. Despite significant advancements in IT infrastructure, Capital One revealed in July 2019 that a third party had compromised crucial client data. The compensation from the Capital One settlement is linked to this data breach.
Class action settlement funds are distributed to claimants through the digital payment network EpiqPay. Class members who meet the payment requirements and have provided a functional email address to the Capital One Settlement administrator will receive an email from NoReply EpiqPay.com containing a list of digital payment options.
According to the website, you can access your settlement funds by utilizing the “Claim Payment” link found in any email correspondence received from EpiqPay, specifically those related to reminders or payments due by November 27, 2023.
Capital One Settlement Overview 2024
| Article Title | Capital One Settlement 2024 |
| Country | USA |
| Type of Firm | Financial Institution |
| Affected people | 98 million |
| Capital One Settlement Amount | $190 million |
What is The Settlement Amount?
In 2021, Capital One bank agreed to pay $190 million to settle a class-action lawsuit filed by American consumers. Each claimant will be compensated up to $25,000 for the losses they incurred. Additionally, the US Office of the Comptroller of the Currency (USOCC) imposed an $80 million fine on Capital One for the same violation, even though it occurred over a year ago.
The Capital One Class Action Settlement will be finalized through email via Epiq Pay. The funds will be distributed to affected parties to cover costs associated with the breach, including expenses related to fraud, identity theft, and data security. Claimants can also seek compensation for missed time, up to approximately $25 per hour for a maximum of around 15 hours.
Unclaimed money is not a cause for concern. Individuals who do not transfer the funds will receive the money via a physical check, available two to four weeks after the deadline for filing a digital payment claim. It serves as a one-stop shop for all related matters.
Who is Eligible to Get it?
If you are one of the 98 million Capital One customers whose personal information was compromised, you may be eligible for the 2023 Class Action Lawsuit Payment. To be considered for the Capital One Settlement, you must be a US resident who had access to their personal information during the July 2019 data breach.
This includes those who:
- Were people applying for Capital One or already customers when the breach happened?
- Did the breach expose their personal information like their name, address, Social Security Number, bank account details, or any other private data?
To check if you’re eligible, go to the Capital One Settlement website or reach out to the Settlement Administrator at 1-855-604-1811 (free of charge).
Concluding Review
The resolution of Capital One’s class action lawsuit, addressing claims of unfair practices and customer harm, stands as a notable legal milestone in the banking sector. Numerous consumers initiated individual lawsuits in this intricate legal dispute against the bank.
Consumers made various accusations, including deceptive advertising, excessive fees, and questionable loan practices. The class action lawsuit not only aimed to hold Capital One responsible for these alleged misdeeds but also sought compensation for damages on behalf of all those affected by the company’s actions.
We’re thrilled that you’ve chosen to stay connected with our portal for information on the Capital One Settlement 2024. Keep coming back for the latest news and updates. Your continued engagement is much appreciated!