Class-action alert: Capital One clients have one week to verify eligibility for a share of the $16 million settlement
Capital One has agreed to a $16 million settlement to resolve claims that it improperly charged unlawful fees for certain transactions, including NSF (non-sufficient funds) or overdraft fees for represented check or ACH transactions, without admitting any wrongdoing. The settlement benefits those customers who were charged these fees between September 1, 2015, and January 12, 2022. These account holders can submit a claim without needing to provide additional documentation. Customers have the option to either exclude themselves from the settlement or object to it by June 17. If not excluded, eligible customers will automatically receive a payment from the settlement. More detailed information is available on the Capital One litigation website.
Capital One customers have a one-week window to see if they benefit from the bank’s $16 million settlement to resolve claims it charged unlawful fees for some transactions.
While Capital One didn’t admit to any wrongdoing, the settlement comes as a victory for customers who claimed Capitol One violated its account terms by failing to refund NSF or overdraft fees it charged for represented check or ACH transactions.
Capital One account holders who were charged a represented fee between Sept. 1, 2015, and Jan. 12, 2022, are not required to provide anything to submit a claim. Customers wishing to exclude themselves from or object to a settlement claim have until June 17 to submit a written objection to the settlement administrator.
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Eligible customers who do not exclude themselves will automatically receive a settlement payment.
More information can be found here.
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