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Monday, July 22, 2024

Capital One Data Breach Settlement Details and Eligibility Explained

Capital One Class Action Lawsuit

In July 2019, someone broke into Capital One’s systems and got to the personal information of about 98 million people in the U.S. who had applied for Capital One credit cards. As soon as this breach became public, people who were affected started suing Capital One, saying that the company wasn’t doing enough to protect their private information. And this kinda huge data breach was the thing that eventually led to many people filing a class action lawsuit, which we now know as the famous Capital One Class Action Lawsuit. If you aren’t aware of the updates of this case, like what went down, what’s the current status, or anything like that, well, then keep on reading.


What Are The Big Claims Against Capital One?

The first thing the claimants say is that Capital One didn’t have strong enough security measures. They blame the company for not doing enough to protect customer information and think the breach could have been avoided with better protection. Capital One allegedly charged fees that were not allowed, which is another important claim. They charged fees for checks or internet payments that were returned. These fees were called “representation fees.” And as per the customers, these fees broke the rules of their Capital One accounts. The case also says that Capital One took too long to tell customers about the breach, which meant they couldn’t take the necessary steps to protect themselves in time.


Settlement Breakdown Of Capital One Class Action Lawsuit

Eventually though, Capital One has agreed to settle this case, and they will pay a total of $16 million for the wrong fees. After legal fees and other costs are paid, there will be about $10.3 million left over to give to customers who are qualified. And yes, remember that Capital One has agreed to pay $190 million for the data breach, which includes services to help protect the identities of those who were harmed.


How to Know If You’re Eligible

Well, you’re kinda in luck if you had a Capital One bank account and were charged representment fees between September 1, 2015, and January 12, 2022. So, simply put, anyone in the U.S. whose personal information was stolen in the 2019 breach is qualified.


How to Get Your Share

You don’t need to do anything if you’re in the fee settlement class. Automatically, credits or payments will be made. Time ran out on June 17, 2024, if you wanted to opt out or protest, you know? Capital One will protect your identity for free until February 13, 2028, even if you didn’t make a claim for the data breach. Though, some of these services are tracking the dark web, identity theft insurance, and more. To sign up, just call the approved service providers.


What’s Next?

See, the fee settlement meeting will be held for the last time on July 15, 2024. If approved, payments will be made within or no more than 60 days. This means that customers who are qualified could get their money by the middle of September 2024, unless there are objections. For the data breach settlement, services are already set up, and since September 2023, people who made claims have been getting money. All customers who were affected can get restoration services, even if they didn’t make a claim.


Parul is an experienced blogger, author and lawyer who also works as an SEO content writer, copywriter and social media enthusiast. She creates compelling legal content that engages readers and improves website visibility. Linkedin

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