Capital One Bank Settlement Claim 2024, Check Payment Date & Eligibility

Capital One Bank Settlement 2024: Customers of Capital One may soon receive compensation as a class action settlement involving the bank nears completion. This settlement pertains to individuals who held accounts with Capital One from 2015 to 2022 and incurred re-presentment fees. This document outlines essential information regarding the settlement, eligibility criteria, and the process for claiming compensation.

The focus of the Capital One Bank Settlement 2024 is on representing fees, which are defined as “an unrefunded [nonsufficient funds] NSF Fee or an Overdraft Fee charged to an account holder for either a Represented Check or Represented ACH, after Capital One had returned that Check or ACH for insufficient funds and assessed an NSF Fee on a prior presentment of that Check or ACH.”

The plaintiffs contend that Capital One had an obligation to refund these fees when customers submitted checks and ACH debits. In July 2019, Capital One reported a data breach in which a cyber intruder accessed the personal data of approximately 98 million consumers in the United States. Following this incident, a class action settlement was proposed against both Capital One and Amazon. This settlement includes a $190 million fund aimed at providing relief to those affected, offering various benefits such as reimbursement for financial losses and identity protection services.

Capital One customers who have not chosen to exclude themselves from the Capital One class action settlement are set to receive monetary compensation shortly from the approved settlement fund, which amounts to a maximum of $16 million. Those anticipating payment can refer to the article for information regarding the scheduled payout dates and additional specifics.

Eligibility for Capital One Bank Settlement 2024

• Eligibility for the Capital One settlement extends to individuals who held a Capital One account between September 1, 2015, and January 12, 2022.
• Those who were charged representment fees by Capital One during the specified period are eligible for the settlement.
• As a proof of receipt, receipt of an Email or Postcard Notice from the bank is enough as a potential entitlement for the settlement.
• The settlement is open to both current and former Capital One account holders who paid representment fees between September 1, 2015, and January 12, 2022.

Paris Olympics 2024: When is Neeraj Chopra Javelin Throw Event Date & Timing?

78th Independence Day Speech In English

Montgomery GI Bill (MGIB) Benefits, Eligibility & Rates

$2385 CPP Extra One Time Payment For Seniors, Check Eligibility

Capital One Bank Settlement Claim 2024

• The participants in the class action lawsuit who meet the necessary criteria should have already been informed about the terms and conditions of the Capital One Bank settlement following the preliminary approval.
• Those who took no action will automatically receive either credits or cash payments as determined by the administrator after the court’s final approval of the $16 million settlement.
• Actually, in the case of Capital One, there is no need for applicants to take any action.
• Individuals who do not opt out of the settlement will automatically receive a payout if they are eligible.
• If you wish to opt out or raise an objection, you must do so by June 17, 2024. To do this, you can visit the official settlement website.
• The exact amount of the payout will be distributed pro rata, meaning it will depend on the number of eligible individuals, which is currently unknown.
• It is important to note that the $16 million settlement figure does not represent the final payout amount, as legal fees and other expenses will reduce it to $10,308,909.16.
• The final hearing for the case between McNeil v. Capital One Bank was scheduled for July 15, 2024, and payments are expected to be made within 60 days of this date.
• On July 15, 2024, the United States District Court for the Eastern District of New York granted final approval for a settlement in the class action lawsuit McNeil v. Capital One Bank, N.A. (Case No. 19-cv-00473-RER-TAM).
• So now Class members can expect to receive their payments within 60 days following the final hearing. Affected individuals are encouraged to exercise patience during this process. The lawsuit contends that Capital One violated its contractual obligations to account holders by improperly imposing and charging representation fees on specific transactions.

In 2024, eligible participants who submitted legitimate claims may be entitled to receive digital payments of up to $25,000 from the administrator overseeing the Capital One class action settlement.

Extra GST Payment Date August 2024: Check Eligibility, Claim & Facts

Ontario Trillium Benefit Payment 2024, Check Deposit Date, OTP Eligibility & Claim Process

CG TET Result 2024: Download Score Card, Merit List, Cut Off Marks and E-Certificate

FAQs: Capital One Bank Settlement 2024