The Capital One data breach of 2019 was a significant event that impacted millions of individuals.
As a result of the breach, Capital One agreed to a settlement to compensate affected customers.
If you were a Capital One customer during the affected period, you might be eligible for a payout.
What was the Capital One Data Breach?
In 2019, a hacker accessed the personal information of approximately 100 million people who had applied for a Capital One credit card.
This data included names, addresses, Social Security numbers, and dates of birth.
The breach was a serious violation of customer trust and led to a class-action lawsuit.
The Capital One Settlement
In response to the lawsuit, Capital One agreed to a settlement to compensate affected individuals.Â
The total settlement amount for the Capital One data breach is $190 million.
This fund is allocated to compensate eligible individuals for their losses and to cover other costs related to the breach.
The leading administrator has been distributing the payment since 28 Sep 2023.
All eligible recipients are offered a 25,000 USD payment.
The payment will be made to each class member who has filed a valid claim for their lost time or pocket expenses.
Who is Eligible for the Capital One Settlement?
To be eligible for the Capital One settlement, you must have been a Capital One customer whose personal information was compromised in the 2019 data breach.
This includes individuals who applied for a Capital One credit card, even if their application was denied.
How Much Can I Get from the Capital One Settlement?
The amount you can receive from the Capital One settlement depends on the specific type of claim you submit.
There are primarily two categories of claims:
- Out-of-pocket losses: If you incurred financial losses due to the data breach, such as fraudulent charges or identity theft expenses, you may be eligible for reimbursement. The maximum payout for out-of-pocket losses is $25,000 per claimant.
- Time spent: If you spent time monitoring your accounts, freezing credit, or taking other steps to protect yourself after the breach, you may be eligible for compensation for your time. The amount awarded for time spent is determined based on a claims process.
How to File a Claim for the Capital One Settlement
To file a claim for the Capital One settlement, you typically need to provide proof of your identity and evidence of your losses.
The claims process involves completing a claim form and submitting it along with required documentation.
You must submit your claim before the deadline to be eligible for compensation.
When Will I Receive My Capital One Settlement Payment?
The timeline for receiving your settlement payment depends on several factors, including the volume of claims and the complexity of the claims process.
Once your claim is approved, you will receive a notification regarding the payment method and expected disbursement date.
What if I Don’t File a Claim?
If you don’t file a claim for the Capital One settlement by the deadline, you may forfeit your right to receive compensation.
You should submit your claim even if you believe your losses are minimal.
Can I Contact Capital One Directly About the Settlement?
While you can contact Capital One for general inquiries, it’s recommended to direct all settlement-related questions to the settlement administrator.
They are the designated point of contact for handling claims and providing information about the settlement process.
What Happens If the Settlement Money Runs Out?
The settlement amount is fixed, and if the total claims exceed the available funds, the payouts to individual claimants may be reduced proportionally.
How Can I Protect Myself from Future Data Breaches?
While the Capital One settlement aims to provide relief for affected individuals, you should always take proactive steps to protect yourself from future data breaches.
Consider implementing strong passwords, enabling two-factor authentication, monitoring your credit reports regularly, and being cautious about sharing personal information online.