If you were affected by the 2019 cyberattack on Capital One Bank, you may be eligible for compensation as part of the 2024 Capital One Bank Class Action Settlement. The bank has agreed to settle claims with victims whose personal information was compromised, with settlement amounts of up to $25,000 per person. Here’s everything you need to know about eligibility, the claim process, and expected payout dates.
What Is the Capital One Bank Class Action Lawsuit About?
In 2019, a major data breach at Capital One Bank exposed the personal information of approximately 98 million people in the U.S. The breach primarily affected individuals who used Capital One’s credit and debit cards. Cybercriminals gained access to sensitive data, leading to identity theft, fraudulent tax returns, and other financial losses.
In response, Capital One has agreed to settle a class-action lawsuit, offering compensation to those impacted by the breach. The total settlement amount is $190 million, with eligible individuals potentially receiving up to $25,000 in compensation.
Eligibility for the Capital One Bank Class Action 2024
To qualify for the settlement, claimants must meet the following criteria:
- Legal Resident: You must be a legal resident of the United States.
- Affected by the Data Breach: Your personal information must have been part of the 2019 data breach.
- Suffered Financial Loss: You must have experienced a loss due to the breach, such as identity theft or misuse of your financial data.
- Notified of Eligibility: You should have received a notification from Capital One stating that you are eligible to submit a claim.
If you meet these requirements, you can submit a claim to receive compensation.
How to File a Claim for the Capital One Class Action Settlement
To claim your portion of the settlement:
- Visit the Official Settlement Website: Go to the Capital One class action settlement page.
- Complete the Settlement Form: Fill out the required details on the online claim form. Be sure to include all necessary information related to your breach experience.
- Submit Your Claim: After completing the form, submit it by the deadline (November 2024).
Once your claim is processed, you may be eligible for compensation up to $25,000. However, remember that the payout amount could be lower depending on the number of claims filed and any legal deductions.
Capital One Bank Class Action Settlement Payout Dates
While the exact date for the payout has not been officially released, the settlement process is expected to be completed in 2024. Originally, there was talk of payments being made by November 2023, but due to potential delays, the payments may extend into 2024.
Once the payout date is announced, if you do not receive your compensation directly in your account, it will be sent via paper checks.
What Can You Claim in the Capital One Bank Class Action Settlement?
The settlement compensates individuals who have experienced out-of-pocket losses due to the data breach. You may be entitled to:
- Cash Payments: For financial losses such as identity theft, false tax returns, or unauthorized use of your credit/debit cards.
- Reimbursement for Lost Time: Compensation for the time spent resolving issues caused by the breach.
- Identity Protection Services: Such as wallet protection, credit monitoring, and restoration services for those affected.
- Capital One Practice Changes: As part of the settlement, the bank is also making changes to its security practices to prevent future breaches.
What Happens If You Don’t Receive Your Settlement?
If you believe you are eligible for the settlement but do not receive your payout by the expected date, don’t panic. The delay could be due to the volume of claims or other administrative reasons. If the settlement is not credited to your account, you will receive a paper check in the mail.
Frequently Asked Questions (FAQs)
- How much can I expect to receive from the Capital One Bank Class Action Settlement? The total settlement is $190 million, and eligible individuals can receive up to $25,000 depending on their specific case and losses.
- What is the Capital One Bank Class Action Lawsuit about? The lawsuit is related to a 2019 cyberattack that compromised the personal data of over 98 million individuals, leading to identity theft and financial fraud.
- When will I receive my Capital One Class Action Settlement payment? While an exact payout date has not been confirmed, the payments are expected to be issued by 2024.
For more information and to submit your claim, visit the official Capital One settlement website at capitalonesettlement.com.
