Capital One Settlement Payout: Dates and Details for 2024

You probably want to know or you will probably ask when you will get your payout in the Capital One Bank Settlement? In this article, we shall share all the important dates and details you need to know about Capital One Bank settlement 2024 payout dates. It’s important to stay informed so you know when to expect your payment. Let’s get started with the key information.

What is the Capital One Settlement?

Capital One is a large bank in the United States. Capital core business is the provision of consumer credit, personal and commercial loans, credit cards, banking facilities and services.

What Happened?

A major data breach occurred at Capital One in 2019. More than a hundred million customers’ personal details were stolen, because of a data hack.

And other things like addresses, full names, credit scores and social security numbers were also leaked in the data breach. The reason for the hack was a weakness in the Capital one internal security system.

Why Did It Happen?

The data breach occurred because of some security weakness in the cloud used by Capital One for their internal data management. This incident raised concerns about how well companies protect customer data.

The Settlement

Capital One faced a series of lawsuits following the case of data breach. In 2022, the bank was in agreement to a settlement in regard to these lawsuits. The settlement is also offered to the customers within the class action suit.
This implies that those persons who had their data compromised could get compensated. The exact payout dates and amounts are part of the settlement details.

Key Dates

• 2019: There was a data breach.
• 2022: After a series of punitive measures, a settlement has been reached.
• 2024: This will be the time when affected customers will start receiving payments.

This type of settlement is aimed for the customers who have experienced some inconvenience and possible loss from the data breach.

How to Check if You’re Eligible for Capital One Settlement?

To check if you are eligible for the Capital One settlement payout, follow these simple steps:

• Visit the Official Settlement Website: There is usually a dedicated website for the settlement. This site will have all the information you need.
• Check Your Mail or Email: Capital may have sent you a notice if you are eligible. Look for any letters or emails from them about the settlement.
• Enter Your Information: On the settlement website, you might need to enter some personal details like your name and account number to see if you qualify.
• Contact Customer Service: If you are unsure, you can call Capital One’s customer service. They can help you find out if you are eligible.
• Look for Updates: Keep an eye on any updates from Capital about the settlement. They will provide the latest information on who is eligible and how to claim your payout.

By following these steps, you can easily find out if you are eligible for the payout from the Capital One settlement.

Important Dates for Capital One Settlement

All those aggrieved by the Data breach of Capital Bank will receive a payout under the terms of the settlement. There are several critical dates to be aware of:

• Final Approval Date: The final approval for the settlement was given on July 15, 2024.
• Payout Date: Payments are expected to be distributed within 60 days of the final approval. This means eligible customers should receive their payouts by mid-September 2024.

If you are eligible, keep an eye on your mail or email for notifications about your payout. This settlement aims to compensate customers for any inconvenience caused by the data breach.

Exact Amount of Capital One Settlement

The Capital settlement involves a significant payout to customers affected by the data breach. Here are the key details:

• Total Settlement Amount: Capital One agreed to pay $190 million to settle the lawsuits related to the data breach.
• Individual Payouts: Eligible customers may receive up to $25,000 each. This amount covers losses due to the breach, such as time spent dealing with the issue and any out-of-pocket expenses.
• Payout Date: Payments are expected to be distributed by mid-September 2024, within 60 days of the final approval on July 15, 2024.

Bottom Line

The Capital One Bank settlement 2024 payout date is beneficial to the customers who were affected. You must stay informed and check updates and check your eligibility for the payout by visiting the website. This settlement aims to compensate for the inconvenience caused by the data breach.