Sunday, May 5, 2013

Capital One Bank Class Action Settlement


A settlement has been reached in a class action lawsuit against Capital One Bank, North Fork Bank and Superior Savings of New England, N.A., over Undeliverable Mail Fees. If you have or had a checking, savings or other deposit account at one of these banks anytime between January 1, 2007 and November 20, 2009, you could be eligible for a cash refund from this class action lawsuit settlement.

The class action lawsuit alleges Capital One Bank -- which acquired North Fork Bank and Superior Bank prior to January 1, 2007 -- charged consumers in New York, New Jersey and Connecticut Undeliverable Mail Fees in the amount of $15, even though the mail was deliverable and received. The lead plaintiff in the case claims he regularly received statements in the mail from Capital One Bank, yet was continually charged the $15 Undeliverable Mail Fee. Even after complaining to Capital One on multiple occasions, he continued to be charged at least 15 Undeliverable Mail Fees, despite receiving the statements in the mail. Because of this, the class action lawsuit claims, Capital One Bank  “intentionally and knowingly” imposed and assessed this errant fee against the plaintiff’s funds.
Under the class action lawsuit settlement, Capital One Bank has agreed to pay each class member $12.30 for each errant Undeliverable Mail Fee they were charged during the class period (which equals 82% of each $15 fee). Anyone who has or had an account at one of these banks during the class period is urged to review their old bank statements to determine how many Undeliverable Mail Fees they were charged for mail that was actually delivered. If you’re unable to access your old statements, you can still submit a claim form with the number of Undeliverable Mail Fees that you believe in good faith were charged. These, of course, will be subject to review and challenge by Capital One Bank. All claim forms must be postmarked or submitted online by September 29, 2010.

The fairness hearing for this proposed class action lawsuit settlement will be held September 28, 2919. Anyone who wishes to object to or exclude themselves from the class action settlement must do so by August 30, 2010.
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