Were you one of those Capital One customer affected by the 2019 data breach? Then you might see the good news going ahead. In a significant development, Capital One has reached to a settlement in a class-action lawsuit, marking a great moment for affected customers. The Capital One Settlement offers compensation for the issues caused to the customers due to unfair practices and the last claim was submitted a few months ago.
As the anticipation builds up for the next payment date, understanding eligibility criteria and the claims process becomes necessary. This guide explains the Capital One Settlement 2024 detail, including eligibility requirements, claim submission process, and key dates to know.
Capital One Settlement 2024
Capital One, a prominent American bank holding company headquartered in McLean, Virginia, was established in 1994 and it specializes in an array of financial services. Capital One has gained prominence for its forward-thinking approach to banking and financial services by integrating information technology with banking and data analytics to provide personalized products and exceptional experiences to its extensive customer base. The company’s inception was rooted with the belief that information and technology would revolutionize the banking sector, beginning with credit cards.
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Furthermore, Capital One offers valuable tools like Credit Wise, which assists users in monitoring and enhancing their credit scores, along with Capital One Shopping, a resource for discovering savings during online shopping spree.
They primarily focus on these areas:
- Credit Cards: Capital One holds a prominent position as one of the largest credit card issuers in the United States. It issues cards directly and collaborates with other financial institutions.
- Auto Loans: Capital One plays a significant role in the US car financing industry.
- Banking: Through its branches and online platforms, Capital One provides a range of services, including checking and savings accounts, as well as money market accounts.
What is Capital One Class Action Payment 2024?
The Capital One Settlement of 2024 comes from a data breach which occurred in 2019. During this cyberattack, hackers gained unauthorized access to the personal information of millions of Capital One customers, compromising the data of approximately 98 million U.S. consumers. In response to this breach, a class action lawsuit was filed against Capital One and Amazon on behalf of affected customers.
This lawsuit resulted in a settlement of $190 million in 2023. The settlement aims to compensate those whose information was compromised in the data breach. This compensation can include:
- Cash reimbursement for certain out-of-pocket expenses.
- Credit monitoring services to help detect future identity theft attempts.
- Identity theft protection services to help resolve any issues related to identity theft.
Capital One Settlement 2024 Overview
| Name | Capital One Settlement 2024 |
| Country of Origin | USA |
| Year | 2024 |
| Category | Financial Aid |
| Objective | Reimbursement for the affected customers. |
| Applicable persons | Customers affected by the data breach in Capital One. |
| Compensation Amount | $190 million (affected customers)
$25000 (average amount for each customer.) |
| Payment Mode | Online (Direct Deposit through EpiqPay)
Offline (Paper Checks) |
| Payment Duration | One time |
| New Payment Starting Month | June 2024 (expected) |
| Expected payment week | Last week of June 2024 |
| Website | https://www.capitalonesettlement.com/ |
Who Can Claim Capital One Settlement 2024 ?
Here are the full eligibility criteria for the Capital One Settlement 2024
- Residency: You must be a resident of the United States.
- Data Breach Impact: Your personal information, including details such as names, addresses, Social Security numbers, and bank account numbers, must have been accessed during the 2019 Capital One data breach.
- Claim Eligibility: Individuals who filed a valid and timely claim before the November 27, 2023 deadline.
- Member of Settlement Class: All individuals within the Settlement Class, irrespective of whether they submitted a claim for Lost Time or Out-of-Pocket Expenses, will be provided with credit monitoring, identity theft protection, and assistance in resolving fraud-related issues.
Exclusions from the Capital One Settlement 2024
certain group of people is excluded from the Settlement in 2024. Refer below described point for knowing the recent exclusions
- Officers and directors of Capital One and Amazon.
- The presiding judge and any judicial staff involved in the lawsuit.
- Any Class Member who timely and validly opted out of the settlement.
Payment Mode and dates for Capital One Settlement 2024.
Capital One through the class action lawsuit payments had declared its commitment to compensate claimants, offering $25,000 per person. The total settlement amount is $190 million.Eligible recipients could choose between digital payments via EpiqPay or getting a paper check from Capital One.
The payment window for the Capital One Settlement 2024 has already closed as the distribution of the settlement funds occurred between September 28th, 2023 with the deadline to claim the Capital One Settlement amount by November 27th, 2023. Capital One is yet to announce to announce the fresh dates for the Capital One Settlement 2024. It is expected to be out soon by June 2024.
How to Claim Capital One Settlement 2024?
The deadline to file a claim for the Capital One settlement has already passed and last date for submitting claims was November 27, 2023.
As the claimants wait for the expected dates in 2024, the process to claim the amount is like this; you may have to submit a claim form along with Unique ID and a PIN. It is necessary to complete all mandatory fields and provide supporting documents such as cancelled checks, invoices, bank statements, and receipts.
If you believe you were impacted by the breach but never received a claim form or settlement, you can try contacting the Settlement Administrator at info@CapitalOneSettlement.com or 1-855-604-1811 (Toll-Free) or can even contact them through the official website https://www.capitalonesettlement.com/.
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Julie Kanary is an accomplished author and financial analyst with a keen interest in social security, tax, and finance-related topics. With a wealth of experience in the field, Julie has established herself as a reputable voice in the domain of economic policy and financial literacy.Drawing upon her extensive background in economics and finance, Liam contributes regularly & offering insightful perspectives and analysis on a wide range of topics.