As of February 2025, Capital One is navigating multiple legal challenges affecting its customers. These include a significant data breach settlement, allegations of deceptive savings account practices, and service disruptions. This article provides a deep overview of these issues, outlines who qualifies for compensation, and offers guidance on the claims process.
Overview of Capital One Settlements and Lawsuits
1. Data Breach Settlement
In 2019, Capital One experienced a data breach compromising the personal information of approximately 98 million U.S. customers. A $190 million settlement was reached, with claim submissions closing on September 30, 2022. While financial compensation claims are no longer accepted, affected customers are eligible for Identity Defense Services and Restoration Services extended through February 13, 2028. citeturn0search3
2. CFPB Lawsuit Over Savings Accounts
On January 14, 2025, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Capital One. The suit alleges that from 2013 to 2019, Capital One marketed its “360 Savings” accounts as high-interest but failed to inform customers about the newer “360 Performance Savings” accounts offering significantly higher rates. This omission purportedly led to customers missing out on over $2 billion in potential interest. citeturn0search1
3. Service Disruption Class Action Lawsuit
In January 2025, Capital One faced a technical outage due to a third-party vendor issue, leaving customers unable to access their accounts, process payments, or receive direct deposits for several days. A class-action lawsuit has been filed, alleging negligence and breach of contract, as customers were deprived of essential funds during the outage. citeturn0search7
Who Qualifies for Compensation?
1. Data Breach Settlement
- Eligibility: Customers affected by the 2019 data breach.
- Benefits: While monetary claims are closed, eligible individuals can still access Identity Defense Services and Restoration Services until February 13, 2028.
2. CFPB Lawsuit Over Savings Accounts
- Eligibility: Customers who held “360 Savings” accounts between 2013 and 2019 and were not informed about the higher-interest “360 Performance Savings” accounts.
- Current Status: The lawsuit is ongoing. Affected customers should monitor official communications for details on potential compensation.
3. Service Disruption Class Action Lawsuit
- Eligibility: Customers who experienced account access issues during the January 2025 outage.
- Current Status: The class-action lawsuit is in its early stages. Impacted individuals are advised to stay informed about developments and potential claim opportunities.
How to File a Claim
- Data Breach Settlement:
- Services Access: Eligible customers can enroll in Identity Defense and Restoration Services through the official settlement website.
- CFPB Lawsuit Over Savings Accounts:
- Monitoring Updates: As the lawsuit progresses, Capital One will provide information on any compensation mechanisms. Regularly check official communications and the CFPB’s website for updates.
- Service Disruption Class Action Lawsuit:
- Staying Informed: Impacted customers should follow news outlets and official Capital One statements for information on the lawsuit’s status and any forthcoming claims process.
Payout Details and Timeline
- Data Breach Settlement: Financial payouts were completed in 2023 and 2024. Identity protection services remain available until February 13, 2028.
- CFPB Lawsuit Over Savings Accounts: As the case is active, no payouts have been determined. Customers should await further announcements.
- Service Disruption Class Action Lawsuit: The lawsuit is pending. Potential compensation details will be shared as the case develops.
Conclusion
Capital One is currently addressing several legal challenges with significant implications for its customers. Staying informed through official channels is crucial to understand your rights and any potential compensation. For the most accurate and up-to-date information, regularly consult Capital One’s official communications and trusted news outlets.
FAQs
No, the claim filing period ended on September 30, 2022. However, identity protection services are available until February 13, 2028
If you held a “360 Savings” account between 2013 and 2019 and were not informed about the “360 Performance Savings” account, you might be affected. Monitor official communications for updates.
Stay updated on the class-action lawsuit’s progress through reputable news sources and official Capital One announcements for potential compensation information.
