Capital One Settlement History
On July 19, 2022, a landmark settlement was reached between Capital One Financial Corporation and the Consumer Financial Protection Bureau (CFPB), the Office of the Comptroller of the Currency (OCC), and all 50 states and the District of Columbia. This settlement resolved allegations that Capital One failed to properly safeguard the personal information of 106 million customers.
Settlement Terms
As part of the settlement, Capital One agreed to pay $190 million in restitution to affected customers and $390 million in civil penalties. The settlement also requires Capital One to:
Payout Date
The Capital One settlement payout date is scheduled for March 31, 2023. Affected customers will receive a payment of $250 per person, regardless of the extent of their financial losses.
Eligibility
To be eligible for a payout, you must have had a consumer account with Capital One on or before July 19, 2019, and your personal information must have been compromised in the data breach.
How to Claim Your Payout
Capital One will automatically send settlement payments to eligible customers. You do not need to take any action to receive your payment. If you believe you are eligible for a payout but do not receive one by March 31, 2023, you can contact the settlement administrator at 1-877-541-7452.
Impact on Consumers
The Capital One settlement is a significant victory for consumers. It demonstrates the government's commitment to holding companies accountable for data breaches and provides financial relief to those who have been harmed.
How to Protect Your Personal Information
While the Capital One settlement is a step in the right direction, it is important to remember that data breaches can still happen. To protect your personal information, you should:
Conclusion
The Capital One settlement is a reminder that data breaches are a serious problem. By taking steps to protect your personal information, you can help to reduce the risk of becoming a victim of identity theft or other financial crimes.
2024-08-01 02:38:21 UTC
2024-08-08 02:55:35 UTC
2024-08-07 02:55:36 UTC
2024-08-25 14:01:07 UTC
2024-08-25 14:01:51 UTC
2024-08-15 08:10:25 UTC
2024-08-12 08:10:05 UTC
2024-08-13 08:10:18 UTC
2024-08-01 02:37:48 UTC
2024-08-05 03:39:51 UTC
2024-08-03 13:55:44 UTC
2024-08-03 13:55:57 UTC
2024-09-07 23:32:15 UTC
2024-09-07 23:32:37 UTC
2024-08-17 22:20:19 UTC
2024-08-18 17:37:52 UTC
2024-09-03 18:49:02 UTC
2024-09-03 18:49:21 UTC
2024-10-19 01:33:05 UTC
2024-10-19 01:33:04 UTC
2024-10-19 01:33:04 UTC
2024-10-19 01:33:01 UTC
2024-10-19 01:33:00 UTC
2024-10-19 01:32:58 UTC
2024-10-19 01:32:58 UTC