Millions of current and former Capital One customers are set to receive compensation after the company agreed to a $425 million class-action settlement in 2025. The settlement combines claims tied to the 2019 data breach and allegations that Capital One failed to notify customers about better interest-earning savings options, leaving many in lower-rate accounts without their knowledge.
Background: The 2019 Data Breach and Interest Rate Dispute
The breach — one of the largest in U.S. banking — exposed personal information from more than 100 million applicants. The incident led to increased scrutiny from regulators including the Federal Trade Commission and U.S. courts over how customer data was stored and protected.
Meanwhile, consumer attorneys uncovered a second issue: customers who held older 360 Savings accounts were not informed when Capital One later introduced higher-paying accounts. This resulted in some customers missing out on years of higher interest earnings.
What the Settlement Provides
The settlement distributes funds across two major areas:
| Settlement Category | Purpose | Approximate Allocation |
|---|---|---|
| Data Breach Compensation | Identity theft and fraud-related losses | $190 million |
| Interest Rate Restitution | Reimbursement for missed account earnings | $185 million |
| Administrative and Compliance Costs | Oversight and consumer notification | $50 million |
Who Is Eligible
You may qualify if either of the following apply:
- You had a Capital One 360 Savings Account between November 18, 2019 and June 16, 2025
- You received a notification regarding the 2019 data breach
Do You Need to File a Claim?
No. Eligible customers will be automatically notified. Payments will be distributed once contact details are verified.
You will receive instructions through secure official channels such as capitalone.com or .gov domains. Former customers will be able to receive funds via mailed check or direct deposit.
Expected Payout Amounts
Exact amounts vary, but most customers are expected to receive between $100 and $1,200, depending on:
- Account balances held
- Duration in the lower-rate savings product
- Verified breach-related time or losses
When Will Payments Arrive?
Processing begins November 2025, with most payouts completed by November 20.
Why This Settlement Matters
The case reinforces callouts made previously by regulators like the Consumer Financial Protection Bureau: banks must be transparent and proactive when rolling out new financial products. It also highlights the ongoing cost of lapses in cybersecurity and communication in the digital banking era.
