Find Out How Much Settlement Money Capital One Owes You
June 13, 2025 – Media MentionLitigation Partner Ira Steinberg shared his insights with U.S. News regarding a planned settlement payment to affected customers who held 360 savings accounts with Capital One.
Excerpts:
The $425 million sum is considerably lower than the $2 billion figure the CFPB accused the bank of shorting its customers, but that is to be expected, says Ira M. Steinberg, a partner at Greenberg Glusker who specializes in commercial and business litigation.
"Once the parties realistically evaluate the other’s counterarguments, get feedback from a mediator on the strengths and weaknesses of their case, and make the difficult compromises needed to reach a settlement, it is very common for a case to settle for substantially less than the splashy number set forth in the complaint," says Steinberg.
"Usually, the class members will have to opt in and register to claim their share of the proceeds, but they should look for instructions from the claims administrator on how that process will go forward," says Steinberg.
Steinberg says those payments would start going out once the window for claiming compensation closes. "I would expect it to be several months," says Steinberg.
