When is Capital One Bank Settlement 2024 Payout Date? Capital One’s 2024 settlement payouts: Not as mythical as a unicorn, but you may still need a road map. Let’s walk through the timeline together! And in 2019, Capital One was hit with a massive data breach affecting some 98 million customers whose personal information was compromised.
The situation resulted in a class-action lawsuit and a $190 million settlement fee, approved in 2022. Individuals eligible for the payout received their first checks starting September 28, 2023, and a second wave of checks went out on September 4, 2024.
The Capital One Bank settlement is in the financial compensation stage, and those who opted in, if eligible (outlined above), are entitled to receive payments for their losses.
Ongoing support services are also available to help affected customers mitigate the risk of their personal information being misused.
How Does Capital One Bank Work?
It is one of the largest banks in the United States. It allows people to store their money in a safe way, pay their bills, earn interest, take out loans, and manage their money.
Capital One is simplifying banking for everyone, whether that is from your computer at home or visiting a branch.
1. Opening an Account
You first open an account to use Capital One. This could be a ‘checking account’ for day-to-day use or ‘savings account’ to set money aside for future use. You can apply for an account online or at a Capital One branch.
2. Online and Mobile Banking
With Capital One, good website and mobile app. You can use it to:
- Check your balance
- Send money using Zelle
- Take photo to deposit checks
- Pay bills
- Lock your debit card or unlock it
The app allows you to bank fast, easily, and safely, all from your mobile device.
Funding and Withdrawing Funds
- To deposit money, you can use
- Direct deposit from your job
- ATM deposit
- Mobile check deposit
- Wire transfer
As well, you can withdraw money with a debit card in physical stores and at ATMs or transfer funds to others.
Taking on Loans and Credit Cards
Capital One offers:
- Cards for building credit or earning rewards
- Auto loans to help buy cars
- Unsecured loans for large purchases or coverage for emergencies
- Small business loans for businesses
You apply online, and if you’re approved, you receive the money or card immediately.
Customer Service and Support
The Capital One also has 24/7 customer support. You can also get help over the phone, online, or in a branch. They’re there to answer questions, troubleshoot issues, or teach you how to make the most of your account.
Really like a smart and friendly financial partner. It guides you in managing your money, saving for the future, and borrowing when necessary.
Thanks to its easy-to-use tools, excellent customer service, and robust security, Capital One is an excellent everyday bank.
How to Survive Capital One Bank Settlement
In 2019, Capital One was involved in a massive data breach, exposing some 98 million customers’ personal information.
The incident resulted in a class-action suit and later a $190 million settlement, approved in 2022. The claims process is now closed, but knowing how it works can help shed light on the settlement process and resources that are available.
1. Understanding the Data Breach
In July 2019, Capital One announced that a hacker had obtained sensitive customer data, including names, addresses, credit scores, and Social Security numbers. Around 98 million people were involved in this breach, which forced the bank to face a lawsuit.
2. Settlement Approval and Claim Submission
The settlement was finally approved by a U.S. federal court on September 13, 2022, for a sum of $190 million. Customers who were affected were able to file claims for compensation up to September 30, 2022.
“These claims can include reimbursement for out-of-pocket expenses and any time spent resolving issues caused by the breach.
3. Payment Distribution
The first payments were issued to eligible claimants on Sept. 28, 2023. On September 4, 2024, a second round of payments was made to those who accepted their initial payments.
Final settlement payments have been issued, and uncashed checks have been voided.
Ongoing Support Services
Although the financial compensation phase is now over, Capital One is still offering Identity Defense Services and Restoration Services to impacted customers until February 13, 2028.
These services are offered even to people who didn’t file a claim and feature elements such as dark web monitoring and identity theft insurance. citeturn0search0
Accessing Support Services
To enroll in the Identity Defense Services, call Pango at 833-317-4821 (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.
Next, go to the webpage and tap 1 to finish enrolling.
While the claims process for the Capital One settlement has ended, those affected are still entitled to many supportive services that help individuals also protect their personal information. Being aware and proactive is crucial to protecting your identity.
How the Timeline for the Settlement Works
This is critical to be aware of for those who were affected by a 2019 data breach that exposed the personal information of around 98 million customers, resulting in a class-action lawsuit and a $190 million settlement. Here’s an overview of the main developments, in plainer terms:
1. The Data Breach (2019)
In 2019, Capital One had a major data breach, compromising customer data. This and the eventual legal action and settlement.
2. Settlement Approval (Sept. 13, 2022)
On September 13, 2022, a U.S. federal court granted final approval to the settlement amounting to $190 million. This approval cleared the way for the claims process.
3. Date of Submission of Claim (30 September 2022)
Individuals affected had until September 30, 2022, to make a claim to be compensated in relation to the breach. Submitting on time was essential for eligibility.
4. First Payments (September 28, 2023)
Payments already have started going out, with eligible claimants receiving their first payment as of Sept. 28, 2023. The total depended on the amount of recognized losses and time spent dealing with breach-related problems.
5. Second Payments (September 4, 2024)
A second round of payments was sent on September 4, 2024, to claimants who opted in to their initial payments. The payment phase is said to be ended.
6. Services for Continued Support (beyond February 13, 2028)
Though the claims period is over, affected customers will have access to Identity Defense and Restoration Services provided by Capital One until February 13, 2028. These services are offered even to people who didn’t file a claim.
October 2023 Copyright for Bank Settlement Timeline Each phase — from the initial incident to the final payments and the ongoing support services — was designed to offer relief and assistance to impacted customers.
Who is Eligible forCapital One Bank Settlement 2024 Payout Date?
Individuals eligible for the settlement must have been U.S. residents who were affected by the 2019 data breach and submitted a valid claim by the September 30, 2022 deadline.
Individual payouts were capped at $25,000, varying by documented out-of-pocket costs and time spent rectifying issues tied to the breach.
The Capital One data breach was another 2019 data breach, and it compromised 98 million users’ data.
The incident spawned a class-action lawsuit and a resulting $190 million settlement that was approved in 2022. Though claims were due long ago, it’s still helpful to look more closely at the criteria that qualified someone to participate in the settlement.
Individuals had to have the following requirements to be eligible for the Capital One Bank settlement:
1. Customer Status: You previously had Capital One as a customer or credit card applicant between September 1, 2015, and January 12, 2022.
2. Residency: You resided in the United States at the time of the data breach.
3. Data Compromise: The 2019 breach compromised personal information like a name, address, Social Security number, or bank account information.
4. Timely Claim Submission: You timely submitted a valid claim form by the September 30, 2022 deadline.
5. Proof of Loss: You complained to relevant authorities about the breach, such as filing a report with the Federal Trade Commission (FTC) or the financial institution involved. citeturn0search2
At this point, all settlement payment operations have now been settled. Any uncashed checks have now been voided and can’t be reissued.
However, Capital One will still provide complimentary Identity Defense Services and Restoration Services to impacted customers until February 13, 2028.
Capital One Bank: Are There Additional Support Services?
The answer is yes, Capital One Bank provides a variety of other support services with the help of its online/NEFT banking services. More smart banking services that help improve your banking experience and are there when you need them.
1. Customer Service Assistance
- General Inquiries: Call their customer service line at 1-877-383-4802
- Capital One Help Center: Search the common questions at the Capital One Help Center
- Chat Support: For a faster response, you can get help through the online chat option provided on the company website.
2. Digital Tools and Resources
Capital One provides digital tools to manage your finances:
- Mobile App: Use the Capital One mobile app to access your accounts, pay bills, and deposit checks.
- CreditWise: This free tool helps you track your credit score and offers tips to improve it.
- Eno: A virtual assistant that helps you monitor spending and notifies you of any unusual activity on your account.
3. Identity Protection Services
Capital One also offers identity protection services to help protect your personal information.
- Fraud Protection: If you think there’s been fraud on your account, call 1-800-427-9428 right away.
- Security Alerts: Be alerted of any suspicious activity on your account so you can take action quickly.
4. Accessibility and Accommodations
- Accommodations: They provide auxiliary services for customers with disabilities.
- Easy Banking: They have built digital platforms for all types of users.
5. Community Engagement
Through these efforts, Capital One engages with its communities:
- Capital One Cafés: These are places where you can receive financial counseling in a laid-back environment.
- Access to Financial Education: They offer you the information needed to use your money wisely.
To conclude, Capital One Bank provides full-service support to cater to individual customer needs with the security of an intuitive banking system.
Bottom Line
In a 2019 data breach, Capital One had the personal information of about 98 million customers compromised.
That prompted a class-action lawsuit, which resulted in a $190 million settlement that was approved in 2022. There were two dates for payout during the settlement process as follows:
1. Initial Payment: Eligible claimants started to receive their first payment on September 28, 2023.
2. Second Payment: On September 4, 2024, a second round of payments was distributed to claimants who accepted their first payments.
This settlement has no remaining payment activities. Checks that have not been cashed are void and cannot be reissued.
Although the financial compensation phase has ended, Capital One remains available to provide affected customers with Identity Defense Services and Restoration Services through February 13, 2028.
These services are extended even to those who did not file a claim, and they include dark web scanning and identity theft insurance.
To sign up for the Identity Defense Services, call Pango at ‘833-317-4821’ (Monday to Friday, 8 a.m. to 11 p.m. ET and Saturday, 9 a.m. to 6 p.m. ET) for an enrollment code.
The settlement process with Capital One Bank has ended, and no further payments will be sent to eligible claimants.
The compensation phase has concluded, but support services are still available to help those impacted. For more queries, you can reach out to the given help channels.
