The Capital One Settlement 2024 has become a hot topic, especially for US residents. It’s a response to a massive data breach that affected millions, offering compensation to those impacted.
On December 2021, Capital One agreed to a settlement of $190 million after a data breach in 2019 that impacted 100 million individuals. This settlement is aimed at compensating American consumers who suffered losses due to this breach.
Summary of Capital One Settlement
Aspect | Details |
---|---|
Settlement Announcement | December 2021 |
Affected Individuals | 98 million |
Total Settlement Amount | $190 million |
Eligibility | US residents affected by the July 2019 data breach |
Compensation per Claimant | Up to $25,000 |
Distribution Method | Digital payment via EpiqPay; physical checks for others |
Claim Deadline | November 27, 2023 |
Settlement Administrator Contact | 1-855-604-1811 (toll-free) |
Understanding the Settlement
In 2021, Capital One faced a lawsuit due to a significant data breach that compromised customer information. This breach led to a $190 million settlement to cover losses like fraud and identity theft.
The breach not only affected customer security but also resulted in a fine of $80 million by the USOCC to Capital One. The settlement is a critical step in compensating those impacted by the breach.
Who is Affected?
The data breach affected 98 million Capital One customers, exposing sensitive information. If you were a Capital One customer during the breach, your personal data might have been compromised.
Settlement Amount Details
Capital One’s settlement provides up to $25,000 per claimant for losses due to the breach. This compensation covers various costs associated with the breach, including time lost dealing with its consequences.
Claiming Your Settlement
Eligible individuals can claim their settlement through EpiqPay’s digital payment network. If you haven’t received a payment or opted for digital claims, a physical check will be sent to you.
Eligibility Criteria
To be eligible, you must have been a US resident and a Capital One customer at the time of the July 2019 data breach. This includes those whose personal information was compromised.
Impact and Analysis
The Capital One settlement marks a significant moment in addressing the consequences of data breaches. It aims to compensate affected customers and serves as a reminder of the importance of data security.
Future Implications
This settlement underscores the financial and reputational risks companies face with data breaches. It highlights the need for robust data protection measures to prevent future incidents.
Frequently Asked Questions
What is the Capital One Settlement 2024?
The Capital One Settlement 2024 is a $190 million settlement aimed at compensating individuals affected by a 2019 data breach.
Who is eligible for the Capital One Settlement?
Eligible individuals include US residents who were Capital One customers during the July 2019 data breach and whose personal information was compromised.
How much can claimants receive from the settlement?
Claimants can receive up to $25,000 for losses related to the data breach.
How can affected individuals claim their settlement?
Eligible individuals can claim their settlement through EpiqPay’s digital payment network or receive a physical check if they haven’t opted for digital claims.
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