In recent years, a few significant statements have been announced by Capital One Bank due to data breaches that occurred in 2019, which impacted millions of customers. This breach led to various legal claims, and the bank agreed to a settlement, including compensation for affected customers.
This statement is the biggest step of Capital Bank regarding consumer protection and financial services. The statement came when multiple legal actions against Capital One Bank took place addressing issues ranging from data breaches to unfair fee practices.
Repercussions are customers of Capital One Bank are likely to receive compensation as a class action settlement involving the bank nears completion.
To make you well acquainted with Capital One Lawsuit 2024 Updates, and everything that you need to know, we are here with this post. Let’s get into it.
Capital One Bank Settlement Claim
One of the leading Financial Institutions, Capital One Bank is the most trusted bank in the USA where millions of citizens have registered and utilized the bank’s facility. The bank has gathered data of the customers who have applied for credit cards in Capital One Bank. It is claimed that this sensitive customer information was hacked by a hacker in 2019 resulting in significant losses of various Capital One bank customers who applied for credit cards.
As the sources say, the hacker has hacked the data of approximately 98 million customers of the bank. Many customers have been affected by this data breach and encountered with significant losses in their amount. In 2024 the bank is all set to compensate all the victims of this data breach case and alloted money to accomplish this.
Capital One Bank Compensation Amount Claim 2024
Now theCapital Bank, has allotted a fund of 198 million USD which will be distributed among the affected users of this data breach case. The compensation amount may vary for each user depending upon their respective losses and other criteria where the maximum compensation will be provided for 25000 USD to an individual.
The compensation amount given by Capital Bank includes pocket losses, credit monitoring, reimbursement for certain expenses, and the settlement amount for identity theft protection
Eligibility Criteria for Capital Bank Settlement Claim
As per Capital One Lawsuit 2024 Updates the eligibility criteria are as follows.
Only citizens of the USA are eligible to claim the Capital One Bank Settlement payment.
The personal details of the individual claiming the settlement amount must be included like the name of the candidate, date of birth, address information, document information, and other details should be linked with the Capital One Bank security breach case of 2019.
The candidates whose names were listed in the hacked data before the case and have already received a notification from the government and the bank accordingly to claim the Capital One Bank Settlement payment.
The Capital One Bank Settlement 2024 Payout Date was 27 November 2023, so all the beneficiaries who have applied to claim the Capital Bank Settlement payment before this date will automatically eligible to claim the settlement amount.
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