In 2019, a big data breach happened at Capital One, affecting about 98 million people. To address this, Capital One agreed to a $190 million settlement in 2021. This settlement is meant to help those who suffered financial losses due to the breach.
In this article, we’ll explain everything you need to know about the Capital One Bank Settlement in 2024, including payment status, eligibility, claim process, and payment dates.
What Happened in the Capital One Data Breach?
In July 2019, a hacker accessed the personal details of millions of people who had applied for Capital One credit cards. This breach led to a class action lawsuit and a $190 million settlement in 2021. People affected by the breach can get compensation for their losses.
Class Action Payment Status
As of 2024, the payments from the Capital One class action settlement are being processed. Those who filed valid claims can receive up to $25,000 per person to cover their out-of-pocket losses and other expenses caused by the data breach. These payments started on September 28, 2023, and are being sent out via email by the settlement administrator.
Eligibility for the Capital One Bank Settlement
To be eligible for the settlement, individuals need to meet specific criteria:
- Residency: Claimants must be U.S. residents whose personal information was accessed during the 2019 data breach.
- Notification: Eligible individuals should have received a notice informing them of their potential eligibility.
- Claim Submission: A valid and timely claim must have been filed before the deadline of November 27, 2023.
Claim Process
To receive the settlement payment, affected individuals had to follow these steps:
- Receive Notification: Potentially eligible individuals were notified about their eligibility.
- Submit a Claim: Complete and submit a claim form by the November 27, 2023 deadline.
- Verification: Claims were verified for eligibility and completeness.
- Payment Distribution: Verified claims are processed, and payments are distributed via email.
Capital One Settlement Payment Date 2024
The deadline to submit claims was November 27, 2023. Payments started on September 28, 2023, but delays in processing could affect the timeline. The settlement administrator will notify eligible recipients of their payment status via email. It’s important for claimants to regularly check their email for updates.
Additional Information
The Capital One data breach settlement is a federal initiative to help those who suffered financial losses. Besides monetary compensation, recipients also get services like credit monitoring and identity theft protection to safeguard against future breaches.
This settlement highlights the importance of data security and the need for companies to protect sensitive personal information. Affected individuals are encouraged to use the provided benefits to reduce any potential long-term impacts.
The Capital One data breach in 2019 was a major event affecting millions of people. The $190 million settlement aims to compensate those who faced financial losses due to the breach.
If you were affected, make sure you follow the steps to claim your compensation and take advantage of the extra services offered to protect yourself in the future. Keep checking your email for updates on your payment status to ensure you receive what you are entitled to.
1. How much compensation can I get from the Capital One settlement?
You can receive up to $25,000 per person to cover out-of-pocket losses and other expenses caused by the data breach.
2. When did the payments for the Capital One settlement begin?
Payments started on September 28, 2023.
3. What should I do if I haven’t received my payment yet?
Check your email regularly for updates from the settlement administrator and ensure that your claim was submitted and verified.
4. What additional benefits are provided in the Capital One settlement?
Besides monetary compensation, recipients also get credit monitoring and identity theft protection services.
5. Who is eligible for the Capital One settlement?
U.S. residents whose personal information was accessed during the 2019 data breach and who filed a valid and timely claim are eligible.