In 2021, Capital One settled a class action lawsuit for $190 million after a significant data breach in 2019. The settlement compensates those affected by the breach. For 2024, settlement funds are used for cash payments covering out-of-pocket losses. Eligible individuals will receive up to $25,000 each. Continue reading to learn more about the payment status, eligibility, and claim details of the Capital One Bank Settlement 2024.
Capital One Bank Settlement 2024 Overview
In July 2019, a hacker accessed the personal details of about 98 million people who had applied for a Capital One credit card. This security breach led to a class action lawsuit, resulting in a settlement designed to help affected individuals. As of September 28, 2023, payments began being issued to eligible claimants.
Class Action Payment Status
In 2024, payments are being distributed to class members who filed valid and timely claims. Eligible individuals can receive up to $25,000, with compensation being issued as digital payments by the settlement administrator.
Eligibility for Capital One Bank Settlement
To be eligible for the settlement, you must be a US resident whose personal details (name, address, bank account number, Social Security Number) were accessed in the 2019 data breach. Individuals who received a notice of potential eligibility and filed a valid claim before November 27, 2023, qualify for the settlement. Verified eligible individuals will receive a direct deposit and credit assistance.
Settlement Payment Date 2024
The deadline for filing a claim was November 27, 2023. Payments started on September 28, 2023. The settlement amount totals $190 million, with each class member eligible to receive up to $25,000. Although the exact payment date for each recipient hasn’t been announced, eligible individuals will be notified via email before receiving their payment.
Conclusion
The Capital One Bank Settlement 2024 offers significant compensation to those affected by the 2019 data breach. Eligible individuals can receive up to $25,000, and payments began in September 2023. Make sure to stay updated on your claim status and look out for an email notification if you’re eligible. This settlement not only provides financial relief but also offers credit monitoring and identity theft protection to safeguard against future incidents.
FAQ’s
How much compensation can eligible individuals receive from the Capital One Bank Settlement 2024?
Eligible individuals can receive up to $25,000 each in compensation for out-of-pocket losses due to the 2019 data breach.
Who is eligible for the Capital One Bank Settlement 2024?
US residents whose personal information (name, address, bank account number, Social Security Number) was accessed in the 2019 Capital One data breach and who filed a valid claim before November 27, 2023, are eligible.
When will eligible individuals receive their settlement payments?
Payments started on September 28, 2023. Exact payment dates vary, but eligible individuals will be notified via email before receiving their compensation.