Capital One customers may be eligible for benefits from two separate settlements: one related to the 2019 data breach and another concerning overdraft fees. This guide provides clear, concise information about both settlements, including eligibility, benefits, and how to access them.
Data Breach Settlement: What You Need to Know
In 2019, a data breach exposed the personal information of approximately 100 million Capital One customers. The $190 million settlement included cash payments for verifiable losses and free credit monitoring and identity protection services. While the deadline for cash payment claims has passed, identity protection services remain available.
Key Information Summary
| Feature | Details |
|---|---|
| Breach Discovered | July 2019 |
| Settlement Approved | 2022 |
| Cash Payment Periods | September 28, 2023, and September 4, 2024 (Completed) |
| Claim Deadline | November 27, 2023 (Past) |
| Identity Protection | Available until February 13, 2028 |
Claim Process (Historical)
Although the deadline has passed, the original claim process involved:
- Visiting the official settlement website: capitalonesettlement.com
- Completing the claim form with required documentation.
- Submitting the claim by the deadline.
Accessing Identity Protection Services
Even if you missed the cash payment deadline, you might still be able to enroll in free identity protection services provided by Pango Group. These services include credit monitoring, dark web surveillance, lost wallet assistance, and $1 million in identity theft insurance.
To enroll:
- Call Pango directly at 833-317-4821 for Identity Defense Services.
- Call 505-896-7416 for Restoration Services.
Overdraft (Representment) Fee Settlement: Current Status
A separate settlement addresses “representment” fees charged on checking accounts between September 1, 2015, and January 12, 2022. These fees were incurred when a transaction initially bounced due to insufficient funds but later cleared. The $16 million settlement received final approval on July 15, 2024.
Eligibility and Claim Process
Specific eligibility criteria and the claims process are still being finalized. Check back for updates as they become available. Payments are expected to be distributed around September or October 2024.
360 Savings Account Interest Rate Settlement: A Developing Story
Another potential settlement is brewing, this time centered around Capital One’s 360 Savings accounts. Accusations have surfaced alleging Capital One concealed the existence of a higher-yielding 360 Performance Savings account from existing 360 Savings customers, potentially costing them significant interest earnings. Additionally, concerns have been raised about a period of frozen interest rates on the 360 Savings accounts while national rates were rising. The Consumer Financial Protection Bureau (CFPB) filed a lawsuit in January 2025, alleging violations of consumer protection laws. This situation is still unfolding, and we will provide further updates as more information emerges.
Frequently Asked Questions (FAQs)
- Q: I missed the data breach claim deadline. Can I still do anything? A: Yes, you might still be eligible for free identity protection services. Contact Pango Group at the numbers provided above.
- Q: When will I receive my overdraft fee settlement payment? A: Payments are expected to be distributed around September or October 2024, pending final court approval and processing.
- Q: What’s the difference between the data breach settlement and the overdraft fee settlement? A: The data breach settlement addresses compensation for compromised personal information, while the overdraft fee settlement pertains to specific checking account fees.
- Q: Is the 360 Savings Account issue part of a formal settlement yet? A: Not yet. This is an ongoing legal matter with the CFPB, and its resolution, including the possibility of a settlement and any resulting consumer benefits, remains to be determined.
What to Do Next
- Monitor your bank accounts: Regularly review your statements and transaction history for any unauthorized activity.
- Understand your bank’s overdraft policies: Familiarize yourself with your bank’s overdraft policies and consider alternative options if necessary.
- Protect your personal information: Use strong passwords, enable two-factor authentication, and be cautious about sharing sensitive information online.
- Stay informed: Keep up-to-date on consumer rights and protection to safeguard your financial well-being.
Disclaimer: This information is for educational purposes only and is not a substitute for legal advice. For specific guidance related to your situation, consult with a qualified legal professional.
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