Capital One customers must act quickly to receive payment from $190 million settlement in class-action case.

Millions of Capital One Customers Have a‌ Limited Time to Collect Their Payment from a $190 Million Settlement

Emails began circulating on September 28th, notifying customers who opted into the Capitol One settlement⁢ last year. This ⁤settlement dates ​back to 2019 when a ‍hacker gained unauthorized access to the personal information of‌ around 98 million Capital One users. The final approval for‍ the class-action settlement was granted on September 13th, 2022.

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The settlement, valued at $190 million, ⁤aims to compensate for various⁤ losses and expenses. This includes⁢ out-of-pocket losses, ⁣time lost, identity defense⁤ services, restoration services, administrative ‍and ‌notice costs, service awards for settlement class representatives ‍and⁣ deposed‌ members, as well as attorneys’ fees, costs, and expenses approved by the court, as stated on the settlement ⁤website.

Customers who did not opt into the settlement in 2022 will not receive an email. The initial email will serve as a ‌courtesy notification, informing the customer about ​the impending payment. It will be sent from [email protected] and will address ‌the recipient by their first and ‌last name.

The email will also disclose the payment‌ amount. For example, one Capital One customer received an email stating they ‌were ‍eligible for a ‌$707 payment, ⁢according to a copy obtained by WGAL 8 News.

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Customers who incurred expenses related to fraud or identity ⁢theft, which they⁣ believed were directly linked to the 2019⁣ data breach or were ‍taken to protect themselves ‍from future harm resulting from the breach, ‍could submit a claim for reimbursement of up to $25,000, according to the settlement website.

Following the initial email, Capital One ⁢recipients⁣ will‌ receive another email containing a link ⁣to claim their payment. ⁤Customers have until November 27th to claim the electronic payment. If a customer fails ​to respond by that date, they will still receive a paper check from ‍the settlement in December.

What are the two categories in which the settlement funds are divided for affected customers?

018 when Capitol One announced a massive data ​breach that compromised the personal information of over 100 million customers. As ‍a result, ⁤the company‌ agreed ​to settle ⁣the class-action lawsuit by providing affected customers ⁢with a total of $190 million in compensation.

The settlement funds were‍ divided into two ‍categories: credit monitoring and out-of-pocket losses. Customers who already had credit monitoring services in place ⁤were eligible to⁢ receive a⁤ cash payment of ‍up to $125. Those who experienced financial losses directly related to the data breach, such as fraudulent charges or identity theft, had the opportunity to claim a ⁢reimbursement for the amount they lost.

Now, over a year later, customers who are eligible to claim their payment have been emailed with instructions on how ⁢to collect their ​share of the settlement. However, there is a⁤ limited time frame for them to do so.

Customers who wish to receive their cash payment or reimbursement must submit their ‍claims before October 20th,​ 2020. ⁢Failure‌ to file a claim within this deadline would result⁣ in ⁤the loss of the opportunity to access‍ the settlement funds.

The payment process is fairly simple and ​can be completed online. Customers are⁢ required to⁣ visit the dedicated settlement website, which was outlined in the email notification they received. They will then need to provide ⁢necessary information, including their claim ID and the unique code mentioned in​ the email. Upon successful submission of​ the claim, they will‍ receive⁢ their eligible ‌payment as determined by​ the settlement terms.

It is essential for customers who ⁢were impacted by the Capitol One data ⁤breach to take immediate action if they wish to collect their compensation. This settlement provides a means of restitution for the inconveniences and potential harm caused by the breach. ⁢By obtaining their rightful share, customers can alleviate ‍some‌ of⁣ the financial burden ⁣and stress they may have experienced as ⁣a result of ​the data breach.

Additionally, it is important to‍ note that the settlement not only offers financial compensation but also includes credit monitoring services. Customers who have⁣ not yet signed up for the credit monitoring provided by Capitol One can still ‌do so until January 22nd, 2021. This service aims to safeguard customers’ personal information and detect any unauthorized activities⁣ that may arise.

In light of the limited time frame and the importance of securing compensation or credit monitoring services, it is crucial for eligible customers to act promptly. By ensuring they collect their payment or avail themselves of credit ‍monitoring, affected individuals ​can protect their financial well-being in​ the aftermath of the data breach.

In conclusion, the Capitol One settlement provides ⁣a long-awaited opportunity for affected customers to claim compensation for the data breach that occurred in 2018. With a deadline​ of October 20th, 2020, customers must act promptly to collect their share of the $190 million settlement. By​ doing​ so, they can alleviate some of the financial burden ⁣and protect themselves from potential future harm.

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