In 2021, Capital One settled a significant class action lawsuit for $190 million following a massive data breach in 2019. The settlement aims to compensate individuals affected by the data breach. This article looks into the 2024 Capital One Bank Settlement, its payment status, eligibility criteria, claim process, and payment dates. Read on to get detailed insights.
Background
In July 2019, an unauthorized hacker accessed the personal details of approximately 98 million individuals who had applied for a Capital One credit card. This security breach had severe implications and led to a class action settlement to address the aftermath. As of September 28, 2023, payments have been disbursed to eligible individuals.
Payment Status
In 2024, the administration of the Capital One class action settlement is providing payments to class members who have filed valid, timely claims. Each eligible claimant can receive up to $25,000, depending on their out-of-pocket losses. The settlement payments are distributed digitally through the settlement administrator.
Key Points
- Claimants: Approximately 98 million affected individuals.
- Payment: Up to $25,000 per person.
- Method: Digital payment via email.
The settlement also includes benefits such as credit monitoring, reimbursement for certain expenses, and identity theft protection, ensuring comprehensive support for affected individuals.
Eligibility
To qualify for the Capital One Settlement, U.S. residents must meet federal eligibility criteria. If your personal details, such as name, address, bank account number, and Social Security Number, were accessed during the data breach, you are eligible for compensation.
Eligibility Criteria
- U.S. Resident: Must be residing in the U.S.
- Affected by Breach: Personal details accessed in the 2019 data breach.
- Timely Claim: Filed a valid claim before November 27, 2023.
Those who received a notice informing them of their potential eligibility and filed a valid and timely claim are eligible for the settlement. Verified individuals will receive their payments via direct deposit.
Payment Date
The deadline to file for the Capital One Bank Settlement payment was November 27, 2023. The distribution of payments started on September 28, 2023. However, the exact payment dates for all eligible recipients have not been finalized.
Important Dates
- Deadline: November 27, 2023.
- Payment Start Date: September 28, 2023.
Claimants should keep an eye on their email for notifications regarding their payment status.
The Capital One Bank Settlement of 2024 aims to compensate individuals affected by the 2019 data breach. With a substantial settlement amount and comprehensive support measures, Capital One is addressing the financial and personal impacts of the breach. Eligible individuals who filed timely claims can expect their payments soon. Stay updated by checking your email for further notifications.
FAQs
What is the Capital One Settlement amount?
The total settlement amount is $190 million.
Who is eligible for the Capital One Settlement?
U.S. residents affected by the 2019 data breach.
How much can an eligible person receive?
Up to $25,000 per person.
When did the payment distribution start?
September 28, 2023.
How will the payments be made?
Payments are made digitally via email.
