In 2024, Capital One Bank is addressing the aftermath of a major data breach from 2019 through the Capital One Bank Settlement Claim. This breach exposed the personal and financial information of millions of individuals. To remedy the situation, Capital One has created a settlement fund totaling $190 million. Here’s a comprehensive guide on what you need to know about the settlement and how to file a claim to receive your compensation.
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Capital One Bank Settlement Claim 2024
Capital One Bank has agreed to provide compensation to individuals impacted by the 2019 data breach, which exposed the personal information of approximately 98 million people. The settlement is designed to address out-of-pocket losses and related expenses incurred due to the breach. Claimants may receive up to $25,000, although this amount may be reduced by legal fees and other associated charges.
Key Details
| Settlement Amount | Per Individual Settlement | Number of Beneficiaries | Mode of Settlement | Settlement Payout Date |
|---|---|---|---|---|
| $190 million | Up to $25,000 | Approximately 98 million | Online | Payments began on September 27, 2023, and continue through 2024 |
Eligibility Criteria
To be eligible for the Capital One Bank Settlement Claim, you need to meet these criteria:
- Residency: You must be a resident of the United States.
- Incident: You must have been affected by the 2019 Capital One data breach involving credit or debit card information.
- Notification: You must have received a notice confirming your eligibility for the settlement.
- Claim Form: You need to complete and submit the settlement claim form.
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Filing a Claim
To receive your settlement amount, you must complete the Capital One Bank Settlement Form 2024. This form is crucial for the Settlement Administrator to assess your claim and determine your eligibility for compensation.
Payment Details
| Detail | Information |
|---|---|
| Start Date | September 27, 2023 |
| Current Status | Ongoing |
| Payout Date | Throughout 2024, expected by August 2024 |
Capital One Bank Settlement 2024 Payout Date
While waiting for your settlement, make sure all your documents are in order. This includes keeping your tax information current and having any proof of losses related to the breach. Being prepared will help speed up the processing of your claim and ensure a smoother payout.
| Category | Details |
|---|---|
| Bank Name | Capital One Bank |
| Settlement Name | Capital One Bank Class Action Settlement |
| Country | USA |
| Incident | Data breach in 2019 |
| Affected Individuals | Approximately 98 million |
| Total Settlement Amount | $190 million |
| Per Individual Settlement | Up to $25,000 |
| Mode of Settlement | Online |
| Payments Began | September 27, 2023 |
| Settlement Payout Date | Expected by August 2024 |
| Eligibility Requirements | US Residency, Data Breach Victim, Received Notification, Submitted Claim Form |
| Key Actions for Claimants | Fill out and submit the Capital One Bank Settlement Form 2024 |
| Additional Support Provided For | Identity theft, fraud claims, out-of-pocket losses, related expenses |
| Settlement Administrator | Reviews claims and provides compensation |
Key Information on the Settlement
| Detail | Description |
|---|---|
| Incident Year | 2019 |
| Data Compromised | Personal and financial information via credit/debit cards |
| Initial Payment Date | September 27, 2023 |
| Expected Final Payment Date | August 2024 |
| Claim Form Submission | Required for compensation |
| Eligibility Notification | Must be received by claimant |
| Compensation Coverage | Identity theft, fraud, out-of-pocket losses, related expenses |
| Amount Before Legal Deductions | Up to $25,000 per individual |
Tips for Staying Updated
| Action | Description |
|---|---|
| Subscribe to Updates | Sign up for Knowledge Center Subscription emails from Federal Student Aid (FSA) |
| Bookmark Key Pages | Save the “2024-25 FAFSA Updates” page on the FSA website |
| Review Issue Alerts | Check the “2024-25 FAFSA Issue Alerts” page |
| Access Training Sessions | Watch on-demand training sessions from the 2023 Virtual Federal Student Aid Training Conference |
| Watch Instructional Videos | View 2024-25 FAFSA form instructional videos on the FSA YouTube Channel |
| Check Federal Register | For updates from the Office of Management and Budget (OMB) |
Capital One Data Breach Settlement: Key Details
The Capital One data breach settlement is a federal compensation initiative designed to address the financial losses experienced by those affected. Besides financial compensation, recipients are also offered services such as credit monitoring and identity theft protection, aimed at safeguarding against potential future breaches.
This settlement highlights the critical importance of data security and emphasizes the responsibility companies have to protect sensitive personal information. Individuals impacted by the breach are strongly encouraged to take advantage of these benefits to reduce the risk of any long-term consequences.
Final Words
The Capital One Bank Settlement Claim for 2024 offers a significant chance for eligible individuals to receive substantial financial compensation. With potential payments of up to $25,000, affected parties need to grasp the eligibility requirements and application procedures. Meeting the criteria and submitting your claim within the specified period are crucial steps to securing your portion of the settlement. By staying informed and proactive, you can navigate the claims process efficiently and make the most of this financial opportunity.
FAQs
What is the Capital One Bank Settlement Claim for 2024?
The Capital One Bank Settlement Claim for 2024 is a legal resolution where Capital One has agreed to pay up to $25,000 to eligible claimants as compensation for certain issues related to their banking practices.
What is the settlement amount I could receive?
Eligible claimants could receive up to $25,000, depending on the nature of their claim and the total number of valid claims submitted.