Capital One Settles Lawsuit for $190M
Capital One has agreed to pay $190 million to settle a lawsuit that was filed after a 2019 data breach. The company hasn’t admitted any wrongdoing as a part of the settlement.
UPDATE 9/1/22: The enrollment was supposed to end August 22nd but it has been extended until September 30th.
This settlement will affect around 98 million Capital One customers whose personal information was compromised.
In July 2019, Capital One informed its customers that millions of them had their information stolen. The hacker was an Amazon Web Services employee who was later arrested by the FBI.
The lawsuit alleges that Capital One failed to take “reasonable care” to secure information belonging to its customers. The compromised information dated back as far as 2005. The information stolen included full names, physical addresses with full ZIP and postal codes, phone numbers, email addresses, social security numbers, dates of birth, credit scores and self-reported income. Some of this was information that is normally required for credit card applications.
According to the plaintiffs, their information would have been secured and protected if Capital One took reasonable cybersecurity measures.
Under the terms of the settlement, class members can collect a cash payment for out-of-pocket expenses (up to $25,000) and lost time (up to 15 hours of lost time at a rate of at least $25 per hour). Eligible customers need to provide detailed documentation including bank statements, invoices, and receipts.
The settlement also provides three years of identity defense services through Pango. These services provide dark web monitoring, identity monitoring, lost wallet protection, security freeze capabilities, $1 million in insurance, and other benefits.
Claims must be submitted online or mailed by September 30, 2022. You can submit your claim here.
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