Capital One Bank Class Action 2024: Who’s Eligible for the Settlement Money?

Here you will find all the necessary information about the Capital One Bank Class Action 2024. In 2023, a lawsuit was filed over Capital One’s practice of charging repossession fees. These fees were charged on checks or ACH transactions that would initially fail due to insufficient funds but would later clear successfully when sufficient funds were available. The lawsuit stated that Capital One improperly charged these fees even when there were sufficient funds in the account. Learn more about the Capital One Bank Lawsuit 2024, settlement amount, eligibility, and other information in this article.

Capital One Bank Class Action 2024

The lawsuit in question centered on a certain practice of Capital One Bank which many account holders deemed unfair. The fees were assessed on checks or Automated Clearing House (ACH) transactions that would initially be returned for non-sufficient funds. Yet at the end of it, those folks will tell you that these transactions would clear just fine as soon as there was money in their account again.

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Settlement Amount Coming

The $16 million settlement in the Capital One Bank Class Action 2024, which was due in June 2024, was for representation fees charged between September 1, 2015 and January 12, 2022. The settlement amount can be claimed after the settlement, for which the court set a deadline.

Capital One Bank Class Action 2024 Eligibility

You must have met the following criteria in order to claim a part of the settlement for Capital One representation fee lawsuit:

You have been an account holder with Capital One from April 22, 2011, through August 27, 2023.

You were charged representation fees on check or ACH transactions.

These transactions were later successfully cleared.

These are some of the eligibility conditions, and the settlement claim deadline may have now passed. Since the settlement was due in June 2024, the court may have set a special deadline for filing a claim.

Capital One Bank Class Action Settlement Amount

A settlement amount of $16 million was determined in the Capital One Bank representation fee lawsuit. The amount of this settlement will be divided among all eligible claims that were filed by the specified claim deadline. The total number of claims and their validity will ultimately determine individual payouts.

Capital One Data Breach Lawsuit

Before diving into the 2019 data breach lawsuit, it is critical to know about representation fee lawsuits in more detail. The data breach agreement has expired in 2022, as does the claim due date. But identity theft protection services are available until Feb. 13, 2028 (clams or not).

Our Knowledge

The representation fee lawsuit highlighted the importance of bank fees. Here are some tips on how you can avoid such fees in the future:

• Make sure you have enough funds in your account to cover checks and debits and avoid NSF (insufficient funds) situations.
• For instance, you must track all your bank statements and check for the same in the online banking portal relentlessly.
• If you see an excessive NSF fee, contact your bank and file your case. Then it matters whether they want the fee back, too.

Essentially, the point of the Capital One Bank lawsuit was to correct tracking errors that led to bank fees being charged by mistake. Although the deadline to submit claims has probably passed, a summary of that case and its ramifications might make you an educated consumer. Staying informed about these fees and continuing to have open discussions with your bank is a strong step towards protecting yourself financially.

FAQs on Capital One Bank Class Action 2024