Credit One Bank may owe some people up to $1,000. Here’s how to see if you’re one of them
Credit One Bank, one of the largest credit card issuers in the U.S., is reportedly shelling out $14 million to settle a class-action lawsuit.
According to the Economic Times, the bank is doling out millions to settle the lawsuit, which accuses it of initiating in robocalls without consent.
Between 2014 and 2019, the bank and its affiliates allegedly blasted consumers with automated debt collection and marketing calls. And the bank, the suit alleges, did so without permission, which is illegal under the Telephone Consumer Protection Act (TCPA).
Even people with no relationship to the bank were targeted, the lawsuit claims. The lawsuit alleges that, in many cases, the calls didn’t stop—even after people told them to.
Rather than fight it out in court, Credit One agreed to settle without admitting fault.
Who's eligible for a payout?
According to the Economic Times, anyone who received automated calls from the bank between the aforementioned dates may be entitled to a piece of the multimillion-dollar payout. You may qualify for a payout if you received a robocall or prerecorded message from Credit One (or its partners) between 2014 and 2019. You also could not have consented to the calls, and the number must belong to you.
It doesn't matter if you were a customer of the bank or not.
How much could you get?
Payouts will depend on how many valid claims are filed.
Legal and administrative fees are also deducted from the total $14 million settlement amount.
Experts estimate they may range from $100 to $1,000 per person.
Here's how to claim your cash
An official website will launch once the settlement is finalized. You’ll be able to file your claim directly there.
If Credit One has your info, it may reach out to you via email or a letter with details.
The payments will be held up by court approvals, so the timeline for receiving the payment could take a year or more.
Processing claims, validating eligibility, and distributing funds can be slow, especially when millions are at stake.
The court has not issued an official date when the checks will be sent out yet.
H/T Economic Times
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