The US court ordered Capital One Bank to settle the lawsuit filed against it by the users for charging excessive NSF and Representation fees in 2024. The Capital One Class Action Settlement Payment will allow the users and class action members to have sufficient compensation for the excessive charges and inappropriate use of authority by the service provider. The Capital One final settlement amount decided on the number of active class members involved in the lawsuit. Presently, the court has given the final hearing on the lawsuit case, the eligible individuals will receive the payment amount in October 2024.
Capital One Class Action Settlement 2024
As millions of Capital One bank users were involved in the lawsuit, the exact payment amount for each individual cannot be revealed now. After making deductions for attorney fees and other expenses that occurred in the lawsuit, the class action members will get the settlement payments accordingly. As the court directed Capital One Bank to pay more than $16 million as a settlement payment, the bank did not admit any wrongdoing but agreed to pay the directed payment to the active class action members.
Capital One Bank users started complaining about the excessive fee for monthly services from the bank. Even some of them complained that they were unable to clear the debts due to constant changes in the policies of Capital One. When many US citizens found that they were not alone and were paying higher fees, they came together and filed a lawsuit against the bank so that they may receive fair compensation payments. Individuals who have filed a lawsuit or a members of the lawsuit will get the settlement payment. The ones who Paid higher fees but are not members of the class action settlement will not receive the compensation so hurry up to file the claim form.
Capital One Bank Settlement 2024 Quick Overview
|
Title |
Capital One Settlement 2024 |
|
Lawsuit Members |
Bank Customer |
|
Defendant |
Capital One Bank |
|
Category |
Class Action Lawsuit Settlement |
|
Account Holders |
From 1st of September 2015 to 12th of January 2022 |
|
Expected Payment Date |
Releasing Soon |
|
Official Website |
www.capitalonesettlement.com |
Capital One Class Action Settlement Payment Eligibility
The eligibility criteria for availing of the Capital One settlement payment is given below
- Have been a Capital One bank account holder from the 1st of September 2015 to the 12th of January 2022
- Utilized the account and made significant transfers in the given time phase
- Filed a lawsuit against the bank
- Have faced excessive charges of payment for regular services from the bank
- The claimant has been an active class member since the beginning
Capital One Bank Class Action Settlement Amount
The final number of valid claimants will determine the exact payment amount from the $16 million class action settlement. The expected maximum amount of the settlement payment is not going to be higher than $500 for any claimant. It should also be noted that not the whole of $16 million will go to the bank account of the plaintiffs as it is subject to attorney fees deductions along with other legal proceeding expenses.
Capital One Lawsuit Settlement Payout Dates
On the 15th of July 2024, the court directed Capital One Bank to clear the settlement payment as it was the last hearing on the case. So the eligible candidates may get the lawsuit payment soon. If an individual has opted out of the lawsuit before the 17th of June 2024, they will not receive the payments also the deadline for filing any objections has passed so the final payment is expected to come on October 2024. As of now, the exact settlement payment date is not cleared but as per the court’s orders, the defendants will be doing the same soon to avoid further legal issues.
Capital One Settlement Claim Form 2024
The individuals can download the claim form from the official website of Capital One Bank. The bank has provided the claim form access through the online channels. If an individual is in view that he or she has been charged an excessive fee in the name of maintenance and a Non-Sufficient Funds Fee, then they can file a claim for the payment. Presently, the claim form is not available on the official website because the court has concluded the final hearing on the 15th of July 2024 and the payment may be coming in October 2024.
Capital One Class Action Settlement Payment Coming – Fact Check
- The bank is not providing any settlement payment at present
- The only accessible payment from Capital One Bank is the Identity Defense Services Class Action Settlement Payment which plaintiffs will be receiving soon
- As soon as the defendant starts paying out, the claimants will receive the payment directly into their bank accounts
- Valid claimants will be deemed eligible and if you have filed the lawsuit before approaching the deadline, then the benefit might be coming soon
- To know more about the Capital One Bank Class Action Settlement and Payout Dates, Expected Settlement Amount, and Other Information, the claimants may browse the official website of the bank.
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Raul joined SD News team in 2021, bringing his experience as a editor-cum writer on global financial & trending topics. From a young age, Raul developed a keen interest in Finance, which propelled his to pursue an undergraduate degree in global and international studies. Raul skillfully combines his knowledge of political economy and finance to empower readers with crucial insights.
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