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capital one has reached a $16 million class-action settlement with customers claiming unlawful fees

Capital One Has Reached a $16 Million Class-Action Settlement With Customers Claiming Unlawful Fees

attorney, January 12, 2025January 12, 2025

On July 5, 2024, the Court approved a final settlement in a class action lawsuit against Capital One, addressing claims from accountholders who were allegedly charged unfair representment fees between September 1, 2015, and January 12, 2022. The case, filed in the U.S. District Court for the Eastern District of New York, led to a $16 million settlement to provide compensation to the affected consumers.

Representment fees are fees charged to accountholders when checks or ACH debits, previously returned due to insufficient funds, are resubmitted to the bank. The class action, initiated on January 24, 2019, included allegations of breach of contract, violation of the implied covenant of good faith and fair dealing, a breach of New York General Business Law § 349, and unjust enrichment against Capital One.

Andrea R. Gold from Tycko & Zavareei LLP, along with co-counsel, represented the class members throughout the extensive litigation process, which lasted for over two and a half years.

“We are pleased with the Court’s final approval of this nationwide settlement, which will provide substantial financial relief for affected consumers,” stated Ms. Gold. “This settlement emphasizes the importance of holding financial institutions accountable for questionable practices and ensures meaningful compensation for those impacted.”

The $16 million settlement will benefit Capital One accountholders who were charged multiple NSF or Overdraft Fees for the same transaction. Visit the official settlement website.

The lawsuit is titled McNeil v. Capital One Bank, Case No. 1:19-cv-00473-DG-TAM, and was filed in the United States District Court for the Eastern District of New York.

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