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Capital One Class Action Settlement: Claim Process, Payment Date, and Details

Capital One Class Action Settlement: Claim Process, Payment Date, and Details

Introduction:

In July 2019, Capital One experienced a significant data breach, affecting 106 million applicants and credit card users in the US and Canada. To address the concerns arising from this breach, a class action settlement has been proposed against Capital One and Amazon. The settlement, with a $190 million fund, aims to compensate affected individuals for out-of-pocket losses, lost time, and provide identity defense services. Here’s a comprehensive guide on how to claim your settlement, who qualifies, and what to expect.

Capital One Class Action Settlement Details:

How to File a Claim:

  1. Visit the Settlement Website:
  2. Unique ID and PIN:
    • Have your Unique ID and PIN ready, which can be found in the notification received via email or mail from Capital One.
  3. Supporting Documents:
    • Gather supporting documents such as bills, bank statements, canceled checks, and receipts.
  4. Online Filing:
    • File your claim online using the provided Unique ID and PIN.
  5. Claim Payment Link:
    • Click the “Claim Payment” link in any “EpiqPay” email to access your funds.
  6. Deadline Reminder:
    • Keep in mind that the deadline for filing claims is November 27, 2023.
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Who Qualifies for Compensation:

  • Approximately 98 million applicants and cardholders whose Social Security information or bank account details were compromised are eligible.
  • If you believe you qualify but did not receive a notification, contact the settlement administrator at 855-604-1811.

Compensation Details:

  • Out-of-Pocket Losses:
    • Class members may recover up to $25,000 for lost time and breach-related expenses, including fraud charges, identity theft prevention costs, and data security fees.
  • Lost Time Compensation:
    • Up to 15 hours of lost time spent resolving the issue may be claimed at $25 per hour.
  • Identity Defense Services:
    • The settlement includes three years of free Pango Group identity protection, offering services like identity monitoring, lost wallet protection, security freeze, dark-web monitoring, account restoration, and $1 million in identity theft and fraud insurance.

Payment Schedule and Process:

  • The settlement received final approval on September 8, but the distribution process may be delayed by potential appeals.
  • Claimants will be notified of the payment schedule by the settlement administrator.
  • Payments will be made through paper checks or direct deposits, depending on the chosen method.

Capital One Settlement Administrator:

  • The settlement administrator is responsible for overseeing the distribution of the $190 million settlement fund.
  • The fund will cover out-of-pocket losses, time compensation, identity defense and restoration services, notification and administration fees, service rewards, lawyers’ fees, charges, and expenses.

Conclusion:

If you were affected by the Capital One data breach, it’s crucial to file your claim before the November 27, 2023 deadline. The settlement aims to provide compensation and identity protection services, bringing some resolution to those impacted by the breach. Keep a close eye on communications from the settlement administrator for updates on the payment schedule and other relevant details.

Frequently Asked Questions (FAQs):

Q1: How can I file a claim in the Capital One settlement? A1: Visit the official settlement website (capitalonesettlement.com) and file your claim online using the Unique ID and PIN provided in the notification.

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Q2: What documents do I need to file a claim? A2: Have supporting documents such as bills, bank statements, canceled checks, and receipts ready for the online filing process.

Q3: When is the deadline for filing claims? A3: The deadline for filing claims is November 27, 2023.

Q4: How much can I receive from the Capital One settlement? A4: Compensation varies, with class members eligible to recover up to $25,000 for various losses and expenses.

Q5: How will the payments be made? A5: Payments will be made through paper checks or direct deposits, and claimants will be informed of the schedule by the settlement administrator.

Q6: Who qualifies for compensation in the Capital One settlement? A6: Approximately 98 million applicants and cardholders whose information was compromised are eligible. Contact the settlement administrator if you believe you qualify but did not receive a notification.

Q7: When will I receive my payment? A7: While the settlement received final approval on September 8, the distribution process may take several months. Claimants will be informed of the payment schedule.

Q8: Can I choose my preferred payment method? A8: Yes, claimants can choose their preferred payment method on a payment dashboard provided after clicking the “Claim Payment” link.

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