In July 2019, a significant data breach compromised the personal information of around 98 million individuals. This breach led to a class-action lawsuit, resulting in a major settlement. The Capital One Bank Settlement, initiated on September 28, 2023, is designed to address the aftermath of this incident.
2024 Class Action Payment Update
- Company: Capital One
- Country: USA
- Settlement Fund: $190 million
- Payment Status: Eligible class action members with valid claims can receive up to $25,000 each. Payments are being made digitally through the settlement administrator.
- Distribution Start Date: Payments began on September 28, 2023.
- Claim Submission Deadline: November 27, 2023. This was the final date for affected individuals to submit claims for compensation.
Payout Date
Expected Timeline for Payouts
The payout date for the Capital One Bank settlement is a crucial detail for affected customers eagerly awaiting compensation. According to the latest information, Capital One expects to begin payouts on September 28, 2023, and will continue as claims are processed. Eligible individuals will receive their payments in batches.
People Affected by Capital One Bank Data Breach
Who is Eligible for Compensation?
The 2019 Capital One data breach affected over 100 million people in the U.S. and Canada. If your personal information was compromised, you are likely eligible for compensation. This includes anyone whose names, addresses, or social security numbers were exposed. Knowing your eligibility is the first step to receiving compensation.
Impact on Affected Individuals
The breach raised serious concerns about identity theft and fraud. Capital One’s settlement aims to provide financial relief and credit monitoring services to reduce the long-term impact on affected customers. For many, this compensation offers essential support in protecting their financial security.
Settlement Terms
- Additional Settlement Amount: In June 2024, an additional $16 million was allocated to cover representation fees for the period between September 1, 2015, and January 12, 2020. The distribution of these funds is expected to begin in July 2024.
- Eligibility: U.S. residents whose personal information was compromised in the 2019 data breach.
- Additional Assistance: All class members, regardless of their individual claims, will receive credit monitoring services.
How to Apply?
To receive compensation, eligible individuals must first submit a claim directly on the official settlement website. Specifically, you need to provide proof that your data was compromised and submit your personal information for verification. By diligently following the correct steps, you ensure that you receive the compensation you’re entitled to.
Important Dates
- Settlement Fund Amount: $190 million
- Maximum Payment Per Individual: $25,000
- Claim Deadline: The deadline for submitting claims was November 27, 2023.
- Initial Distribution Start Date: September 28, 2023, marked the start of the payment distribution, which will continue through 2024 as claims are processed.
- Additional Fund Distribution Date: July 2024 is the anticipated start date for the distribution of the additional $16 million in representation fees.
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Additional Information
The lawsuit related to the 2019 data breach was settled in 2022, with the current settlement addressing ongoing legal fees and providing continuous protection services. Although the claim submission deadline has passed, affected individuals can still access identity protection services until February 13, 2028.
Conclusion
The 2024 Capital One Bank Settlement offers significant relief to those impacted by the 2019 data breach. To stay informed about your claim and receive any benefits due to you, visit the official settlement website or contact the settlement administrator.
FAQs
What is the total settlement amount?
$190 million, with an additional $16 million allocated for legal representation fees.
Who is eligible to receive compensation?
U.S. residents affected by the 2019 data breach are eligible for compensation. If your personal information was compromised, you qualify for the settlement.
What is the maximum payment I can receive?
You can receive up to $25,000, depending on the validity of your claim and the extent of the impact.
When did the payment distribution start?
The payment distribution began on September 28, 2023, and will continue through 2024 as claims are processed.
How will I receive my payment?
Payments are being made digitally via email, with instructions provided by the settlement administrator.
Can I still file a claim for compensation?
No, the deadline for filing claims was November 27, 2023. However, identity protection services remain available to affected individuals until February 13, 2028.
Where can I get more information about the settlement?
You can visit the official settlement website or contact the settlement administrator directly for the most accurate and up-to-date information.