The Capital One Bank Settlement 2024 stems from a class action lawsuit settled for $190 million following a significant data breach in 2019.
This breach exposed the personal details of approximately 98 million individuals who had applied for Capital One credit cards.
In 2024, the settlement funds are being distributed as cash payments for out-of-pocket losses under defense services, with eligible recipients potentially receiving up to $25,000 each. Read on to know about the payment status, eligibility, and claim process.
Settlement Background
In July 2019, a hacker accessed sensitive personal information from millions of Capital One credit card applicants.
Read Also- $1537 Direct Deposit Checks 2024 – For Everyone, Check Eligibility & Payment Dates
This breach led to a class action lawsuit, resulting in a substantial settlement. Beginning September 28, 2023, affected individuals began receiving compensation. The settlement not only includes financial compensation but also offers credit monitoring, reimbursement for certain expenses, and identity theft protection.
Payment Status
The administration of the Capital One class action settlement has been actively distributing payments in 2024. Each eligible individual, whose claims were filed timely and valid, can receive up to $25,000. Payments are processed digitally through the settlement administrator.
Read Also- Big Changes Coming in SSDI and SSI for Disability Beneficiaries: Full News
The claimants started receiving their compensation on December 27, 2023, and those who missed the initial payment phase are provided additional opportunities to receive their funds.
Eligibility Criteria
To qualify for the Capital One Bank Settlement, the following conditions must be met:
- Residency: Individuals must be U.S. residents.
- Data Breach Impact: The individual’s personal details, such as name, address, bank account number, and Social Security Number, must have been accessed during the data breach.
- Notice of Eligibility: The individual must have received a notice informing them of their potential eligibility for settlement.
- Timely Claim Submission: The claim must have been filed validly and timely before November 27, 2023.
Eligible individuals who meet these criteria and have been verified will receive a direct deposit. Additionally, all settlement class members, regardless of their specific claims, will receive credit assistance.
Payment Date
The deadline for receiving the Capital One Bank Settlement payment was November 27, 2023. Distribution of payments commenced on September 28, 2023. The settlement amount totals $190 million, with each eligible recipient potentially receiving up to $25,000.
| Milestone | Date |
|---|---|
| Payment Distribution Starts | September 28, 2023 |
| Claim Submission Deadline | November 27, 2023 |
| Compensation Start Date | December 27, 2023 |
Those who filed a valid claim before the deadline will soon receive their payment, with an email notification to confirm the delivery. However, the final payment date has not been disclosed yet.
The lawsuit was resolved in favor of the plaintiffs, and while appeals might delay payouts, eligible individuals will eventually receive their due compensation.
The Capital One Bank Settlement marks a significant resolution for those affected by the data breach, emphasizing the importance of data security and corporate accountability. As the settlement process continues, eligible claimants should stay informed and ensure all necessary documentation is completed to receive their compensation.
FAQs
Who is eligible for the Capital One settlement?
U.S. residents affected by the 2019 data breach who filed a timely claim.
What is the maximum compensation per person?
Eligible individuals can receive up to $25,000.
When did the payment distribution start?
Payments began on September 28, 2023.
What if I missed the initial payment phase?
You may still receive your payment through additional opportunities provided by the administrator.
How will I be notified about my payment?
Eligible recipients will receive an email notification before their payment is processed.
