Capital One Overdraft Fee Class Action Settlement

A settlement has been reached in a class action lawsuit alleging Capital One NA improperly posted debit card transactions in order to maximize the amount of overdraft fees it charged to account holders. If you paid overdraft fees to Capital One, Hibernia Bank or North Fork Bank, you may be eligible for benefits from the class action settlement.

The Capital One overdraft fee class action lawsuit alleges Capital One posted debit card transactions in the order from the highest to lowest dollar amount, resulting in an increased number of overdraft fees that were assessed to accountholders. The Capital One overdraft fee class action lawsuit was initially filed in 2010 before it joined the massive multidistrict litigation known as In re: Checking Account Overdraft Litigation.

Capital One denies any wrongdoing but agreed to settle the overdraft fee class action lawsuit to avoid the expense and uncertainty of ongoing litigation. Previous attempts by Capital One to dismiss the overdraft fee litigation were unsuccessful.

Who’s Eligible

Class Members of the overdraft fee settlement include consumers who had one or more Capital One consumer checking accounts (including former customers of Hibernia Bank and North Fork Bank) that could be accessed with a debit card and who incurred one or more debit card fees as a result of Capital One’s practice of posting debit card transactions from the highest to lowest dollar amount during the applicable Class Period.

The Class Periods are as follows:

• For accounts opened in Louisiana: July 1, 2002 through Aug. 15, 2010
• For accounts opened in Connecticut, New York or New Jersey: Oct. 21, 2004 through Aug. 15, 2010
• For accounts opened in Texas: May 18, 2006 through Aug. 15, 2010
• For accounts opened in Virginia: May 18, 2004 through Aug. 15, 2010

To be eligible for benefits from the Capital One class action settlement, you must have had two or more overdraft fees assessed on one or more days during the applicable Class Period.

NOTE: If your Capital One account was closed with a negative balance and the amount of benefits you would otherwise be entitled to receive from this class action settlement would not make the balance positive, you are not eligible for payment.

Potential Award

The amount each Class Member will receive from the Capital One class action settlement will be based on the total number of eligible Class Members and the amount each Class Member paid as a result of Capital One’s debit card transaction posting practice.

Proof of Purchase

N/A

Claim Form Deadline

N/A. Class Members who do not opt out or exclude themselves from the Capital One overdraft settlement will automatically receive a payment if the class action settlement receives final approval.

Case Name

Steen v. Capital One NA, Case No. 1:09-cv-22058, in the U.S. District Court for the Eastern District of Louisiana; In re: Checking Account Overdraft Litigation, Case No. 1:09-md-02036-JLK, in the U.S. District Court for the Southern District of Florida, Miami Division

Final Hearing

5/13/2015

According to an August 28, 2015 update from the Settlement Administrator: Settlement Class members with closed accounts were mailed Settlement Checks, and Settlement Class members that have current accounts with Capital One were issued customers account credits.

Settlement Website

www.CapitalOneOverdraftSettlement.com

Claims Administrator

Capital One Overdraft Settlement
P.O. Box 3219
Portland, OR 97208-3219
1-888-230-0062
info@CapitalOneOverdraftSettlement.com

Class Counsel

Robert C. Gilbert
GROSSMAN ROTH PA

Richard Golomb
GOLOMB & HONIK PC

Defense Counsel

James McGuire
MORRISON & FOERSTER LLP