Table of Contents

Capital One $16 Million Settlement: How to Check Your Status!

Hey there, dear reader! 🚀 If you were a Capital One customer between 2015 and 2022, this news is super important for you. We’re diving into the juicy details of the $16 million settlement and how YOU can check if you’re eligible. Let’s get started!

What’s the Fuss About?

Capital One has agreed to a $16 million settlement due to some hefty representment fees. These fees, simply put, are NSF (nonsufficient funds) or Overdraft Fees that customers were charged multiple times. 😱 Here’s what went down:

When Capital One returned a check or ACH (automated clearing house) transaction due to insufficient funds, they charged an NSF Fee.
Later, when the same check or ACH was represented, Capital One charged the fee again! Ouch. 💸

So, the settlement aims to refund these fees to affected customers. Yay! 🎉

Am I Eligible? 🤔

Check out the super simple eligibility criteria:

You were a Capital One account holder between September 1, 2015, and January 12, 2022.
You were charged representment fees during this period.

That’s it! If you fit the bill, you might be on the list. You may have already received an email or a postcard notice from Capital One. 📬

How Do I Claim? 📝

Here’s the best part: You don’t have to do anything! 😍 Yes, you read that right. If you’re eligible and don’t exclude yourself, the payout will be automatic. But if you do want to exclude yourself or object for any reason, you need to do so by June 17, 2024.

Important Dates 🗓️

Final approval hearing: July 15, 2024
Expected payment date: Within 60 days post-approval

Pro tip: Keep an eye out for any updates in case there are objections, as they might push the payment date back.

What’s the Payout? 💰

The payout amount is distributed pro rata, which means the final sum depends on how many people are eligible. Legal costs and fees will shrink the $16 million to $10,308,909.16.