Capital One Bank Class Action Amount: In recent years, data breaches have become an ever-present risk, compromising the personal information of millions. One of the largest breaches was Capital One’s 2019 data breach, which exposed sensitive information for nearly 100 million U.S. consumers. This breach led to a significant class-action settlement in 2024, offering affected individuals compensation and services to protect their identities. This article will guide you through the Capital One Bank Class Action Settlement, explaining who is eligible, payout amounts, and key dates.
Capital One Bank Class Action Amount
The Capital One Bank Class Action Settlement 2024 highlights the financial and legal consequences companies face when data breaches compromise consumer information. While claim deadlines have passed, Identity Defense Services remain available to eligible individuals until February 13, 2028. For those impacted, staying proactive in protecting personal data is key to minimizing the effects of data breaches.
| Aspect | Details |
|---|---|
| Settlement Amount | $190 million |
| Eligibility | U.S. residents affected by the 2019 data breach |
| Payout Per Person | Up to $25,000, depending on individual claims and losses |
| Claim Deadline | September 30, 2022 (for initial claims) |
| Payment Distribution | Initial payments began in September 2023; second round in September 2024 |
| Additional Benefits | Identity Defense Services and Restoration Services available through February 13, 2028 |
| Official Settlement Site | Capital One Data Breach Settlement |
Background on the Capital One Data Breach
In July 2019, Capital One Bank reported a data breach that affected approximately 98 million U.S. consumers. The exposed information included names, addresses, contact information, dates of birth, and Social Security numbers for 120,000 individuals. This breach highlighted vulnerabilities in data security practices and had serious implications for affected individuals.
Understanding the Capital One Settlement
The Capital One Class Action Settlement reached a total of $190 million, with the fund being used to compensate affected consumers for their financial losses, as well as provide identity protection services.
Settlement Amount and Distribution
The fund serves multiple purposes:
- Compensation for Out-of-Pocket Losses and lost time.
- Identity Defense Services for five years, including restoration services and credit monitoring.
- Administrative Costs and Attorneys’ Fees.
Eligibility Criteria
To qualify, individuals must:
- Have been U.S. residents affected by the 2019 breach.
- Have filed a valid claim by September 30, 2022.
Eligible participants could submit claims for out-of-pocket expenses, lost time, or opt for free identity protection services.
Payout Amounts
Claimants who provided documented losses could receive up to $25,000 each, covering:
- Out-of-Pocket Expenses: Unreimbursed fraud charges, professional fees (accountants, attorneys), and credit monitoring.
- Lost Time: Compensation for up to 15 hours at a rate of $25 per hour for time spent addressing issues related to the breach.
Important Dates and Payment Distribution
- Claim Filing Deadline: September 30, 2022.
- First Round of Payments: Distributed beginning September 28, 2023.
- Second Round of Payments: Began on September 4, 2024, for those who accepted initial payments.
Additional Benefits: Identity Defense and Restoration Services
All class members, whether or not they filed for financial compensation, are eligible for Identity Defense Services through February 13, 2028. These services include:
- Dark Web Monitoring: Regular monitoring of the dark web for unauthorized activity.
- Identity Alerts: Notifications of suspicious activity involving personal information.
- Lost Wallet Protection: Assistance with canceling and replacing credit cards if your wallet is lost.
- Identity Theft Insurance: Up to $1 million in coverage for eligible costs.
Accessing Identity Defense Services
To enroll in Identity Defense Services:
- Call Pango: 833-317-4821 (available Monday-Friday from 8 a.m. to 11 p.m. ET and Saturday from 9 a.m. to 6 p.m. ET) for an enrollment code.
- Enroll Online: Visit Pango Enrollment.
How Capital One Bank Class Action Work?
Class action settlements are a legal resolution in which a group of people collectively brings a claim against a defendant. They provide a way for individuals affected by similar issues to seek compensation without filing individual lawsuits. In this case, the Capital One settlement offered a streamlined process for affected consumers to receive compensation and identity protection.
Preventive Measures to Protect Personal Data
Data breaches underscore the importance of personal data security. Here are some practical steps to safeguard your information:
- Use Strong Passwords: Avoid using easily guessed passwords; instead, use a combination of letters, numbers, and symbols.
- Enable Two-Factor Authentication (2FA): This extra layer of security ensures that even if someone has your password, they can’t access your account without a second form of identification.
- Monitor Financial Statements: Regularly review your bank and credit card statements for suspicious transactions.
- Be Cautious with Public Wi-Fi: Avoid accessing sensitive accounts or conducting financial transactions over unsecured networks.
- Regularly Update Software: Keep your devices updated to protect against vulnerabilities.
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Frequently Asked Questions (FAQs)
1. What if I missed the claim filing deadline?
The deadline to file a claim was September 30, 2022. If you missed this deadline, you can still access Identity Defense Services through February 13, 2028.
2. How will I receive my settlement payment?
Payments are made through digital payment platforms or checks. If you selected digital payment and have not received it within 72 hours after the confirmation email, contact Tremendous, the payment partner.
3. Can I enroll in Identity Defense Services now?
Yes, even if you did not file a claim for financial compensation, you are eligible to enroll in Identity Defense Services, which remain available until February 13, 2028.
4. What if my name has changed and I can’t cash my check?
For a replacement check in your new name, mail the original voided check with a copy of your name change documentation (e.g., marriage certificate, divorce decree) and a request to:
Capital One Settlement Administrator
P.O. Box 4518
Portland, OR 97208-45185. Will there be another round of payments?
No additional payment rounds have been announced. Any remaining funds after the second round of distribution will be addressed by the settlement parties.
Resources for More Information
For more information about the Capital One Settlement, consider visiting these resources:
- Federal Trade Commission (FTC): Consumer Alerts and Resources
- U.S. Department of Justice: Identity Theft Information
- Identity Theft Resource Center: Tips on Data Breach Recovery
