{"id":215,"date":"2024-12-20T02:15:05","date_gmt":"2024-12-20T02:15:05","guid":{"rendered":"https:\/\/www.soscip.org\/us\/?p=215"},"modified":"2024-12-20T02:15:06","modified_gmt":"2024-12-20T02:15:06","slug":"16-million-capital-one-settlement","status":"publish","type":"post","link":"https:\/\/www.soscip.org\/us\/16-million-capital-one-settlement\/","title":{"rendered":"$16 Million Capital One Settlement: Are You Eligible for a Payment or Credit?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Capital One has agreed to a <strong><a href=\"https:\/\/www.soscip.org\/us\/16-million-capital-one-settlement\/\" data-type=\"link\" data-id=\"https:\/\/www.soscip.org\/us\/16-million-capital-one-settlement\/\">$16 million class-action settlement<\/a><\/strong> to address allegations of improperly charging customers <b>representation fees<\/b> on consumer checking accounts. If impacted, you could be eligible for a payment or account credit. Here&#8217;s everything you need to know about this settlement and how to benefit from it.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li><a href=\"#whats-the-lawsuit-about\">What\u2019s the Lawsuit About?<\/a><\/li><li><a href=\"#settlement-overview\">Settlement Overview<\/a><\/li><li><a href=\"#what-are-your-options\">What Are Your Options?<\/a><\/li><li><a href=\"#key-dates-to-remember\">Key Dates to Remember<\/a><\/li><li><a href=\"#how-to-stay-informed\">How to Stay Informed<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"whats-the-lawsuit-about\"><strong>What\u2019s the Lawsuit About?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The class-action lawsuit accuses Capital One of breaching its contract with accountholders by assessing <b>representation fees<\/b> on certain transactions.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Representment Fees<\/strong>: These are fees charged when a check or ACH debit, returned for insufficient funds (NSF), is re-presented for payment and leads to another fee.<\/li>\n\n\n\n<li>The lawsuit argued these fees were improper and violated customer agreements.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">While Capital One denies any wrongdoing, the company opted to settle the lawsuit to avoid prolonged litigation.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"settlement-overview\"><strong>Settlement Overview<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The settlement establishes a <strong>$16 million Settlement Fund<\/strong>, which will cover:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Payments or account credits to class members.<\/li>\n\n\n\n<li>Attorneys\u2019 fees and costs.<\/li>\n\n\n\n<li>Service awards as ordered by the court.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Eligible account holders include <strong>current and former Capital One consumer checking account holders<\/strong> who were charged these fees between <strong>September 1, 2015, and January 12, 2022<\/strong>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/wells-fargo-bank-settlement\/\" data-type=\"post\" data-id=\"195\">Wells Fargo Bank Settlement: What You Need to Know About Eligibility, Payments, and the $1 Billion Resolution<\/a><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/equifax-data-breach-settlement\/\" data-type=\"post\" data-id=\"23\">Equifax Data Breach Settlement: Amount, Deadlines and Compensation<\/a><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/1-5m-popular-bank-overdraft-settlement\/\" data-type=\"post\" data-id=\"209\">$1.5M Popular Bank Overdraft Settlement: Are You Eligible for Compensation?<\/a><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/kia-and-hyundai-theft-settlement\/\" data-type=\"post\" data-id=\"204\">Kia and Hyundai Theft Settlement: Up to $145 Million Compensation Announced for Owners<\/a><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><a href=\"https:\/\/www.soscip.org\/us\/verizon-class-action-settlement-2024\/\" data-type=\"post\" data-id=\"188\">Verizon Class Action Settlement 2024: Payout Details, Eligibility, and Payment Timeline<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-are-your-options\"><strong>What Are Your Options?<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Do Nothing<\/strong>\n<ul class=\"wp-block-list\">\n<li>If you take no action and the settlement is approved, you\u2019ll automatically receive a payment or credit.<\/li>\n\n\n\n<li>Payments will be issued as account credits for current accountholders or checks for past accountholders.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Opt-Out<\/strong>\n<ul class=\"wp-block-list\">\n<li>By opting out, you forfeit any settlement benefits but retain your right to sue Capital One independently for these claims.<\/li>\n\n\n\n<li>Opt-out deadline: <strong>June 17, 2024<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Object to the Settlement<\/strong>\n<ul class=\"wp-block-list\">\n<li>If you disagree with the settlement, you may file an objection by mail. If your objection is overruled, you\u2019ll still receive the payment or credit.<\/li>\n\n\n\n<li>Objection deadline: <strong>June 17, 2024<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"key-dates-to-remember\"><strong>Key Dates to Remember<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Opt-Out\/Objection Deadline<\/strong>: <strong>June 17, 2024<\/strong><\/li>\n\n\n\n<li><strong>Final Approval Hearing<\/strong>: <strong>July 15, 2024, at 10:00 AM EDT<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The final hearing will determine whether the settlement is approved. Payments will be distributed after approval and any appeals are resolved.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-stay-informed\"><strong>How to Stay Informed<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Visit the <strong>Official Settlement Website<\/strong> for more details, updates, and frequently asked questions.<\/li>\n\n\n\n<li>Monitor correspondence from the Settlement Administrator for specific payment instructions.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">This settlement allows Capital One customers impacted by representation fees to receive compensation. If you qualify, you don\u2019t need to file a claim to participate\u2014sit tight and wait for payment if you do not opt out. For more information, visit the official website or contact the settlement administrator.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Capital One has agreed to a $16 million class-action settlement to address allegations of improperly charging customers representation fees on consumer checking accounts. If impacted, you could be eligible for a payment or account credit. Here&#8217;s everything you need to know about this settlement and how to benefit from it. What\u2019s the Lawsuit About? The&nbsp;<a class=\"read-more\" href=\"https:\/\/www.soscip.org\/us\/16-million-capital-one-settlement\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts\/215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/comments?post=215"}],"version-history":[{"count":10,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts\/215\/revisions"}],"predecessor-version":[{"id":1184,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/posts\/215\/revisions\/1184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/media\/224"}],"wp:attachment":[{"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/media?parent=215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/categories?post=215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.soscip.org\/us\/wp-json\/wp\/v2\/tags?post=215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}