Credit One Bank TCPA Settlement: Credit One Bank, one of America’s largest credit card providers, is in the news these days due to a major legal settlement. The bank has agreed to pay a total of $14 million to settle a class action lawsuit. Under the settlement, thousands of people could be entitled to compensation of up to $1,000. But what happened that the bank had to pay such a huge amount? Let us understand the whole matter in detail.
Why is a fine of $14 million being paid?
This case is from the period between 2014 and 2019. It is alleged that during this time Credit One Bank and its affiliates called people using automated systems. These calls were made without the permission of the people, which is a violation of the rules of the Telephone Consumer Protection Act (TCPA).
Under the TCPA, it is prohibited to make automated or recorded calls to any person without his consent. This is commonly called a robocall. In this case, most of the calls were for payment reminders or marketing promotions. Interestingly, these calls were made not only to the bank’s customers, but also to those who had no connection with the bank.
Many times the callers even refused outright, but despite this the calls did not stop coming. As a result, people filed a class action case against the bank. Instead of fighting a long legal battle, the bank decided to pay $14 million as part of the settlement without admitting fault.
Who can claim?
If you are wondering if you are also entitled to this compensation, then check the criteria below. You can make a claim in this settlement if:
- You have received automated or recorded calls from Credit One Bank or its affiliates between 2014 and 2019.
- You did not give permission to receive such calls.
- The phone number was yours at the time of the call, whether you are a customer of the bank or not.
- You do not need to have a record of the phone call, but if you do, it can strengthen your claim.
The settlement administrator will check your phone number with the bank’s records to ensure that the call was actually made to your number.
How much compensation can be received?
The amount of compensation will depend on how many people make a valid claim in total. It is estimated that a person can get from $100 to $1,000.
After deducting legal fees and administrative expenses, about $8 to $9 million of the total $14 million will be distributed to consumers. This means that the fewer people make claims, the more money the rest will receive.
How to Claim?
Once the court gives final approval to the settlement, an official website will be launched. If your name is on the bank’s records, you will be sent a notice via email or post.
To make a claim, you need to:
- Go to the website (link will be released soon).
- Enter your personal information and phone number.
- Upload any evidence (such as call records) or submit an affidavit.
- Choose how to receive compensation (check, PayPal, or bank transfer).
- Submit the claim within the stipulated time frame (likely it will be a 60 to 90 day window).
When will you get paid?
The timing of the payment will depend on several steps. The process usually goes something like this:
- Claims can take 3 to 5 months to review.
- Payouts start 6 to 9 months after final approval.
Be cautious during this time. Trust only the official website and email. Do not try to get someone to pay you for a claim, as this process is completely free.
Importance of the law – Consumer rights
This case once again proves how important laws like TCPA are in protecting consumer rights. This law gives people the right to decide who can contact them and how.
But this story is not limited to robocalls. Credit One Bank has previously been criticized for hidden fees, unclear charges and poor customer service. In such a situation, this incident teaches consumers to be even more cautious.
Conclusion
This $14 million settlement by Credit One Bank is not only a relief for the affected people, but also a reminder that even the biggest companies must respect consumer rights. If you have also received unauthorized calls from the bank during this period, then this is your chance to get your share of compensation.
It is important to be vigilant in such cases and make a claim on time, because once the deadline is over, you do not get another chance.
FAQs:
Q. What is the Credit One Bank lawsuit about?
A. It’s about Credit One Bank making automated calls without customer consent between 2014–2019, violating the TCPA.
Q. How much money is in the settlement?
A. $14 million in total, with about $8–$9 million expected for consumers after fees.
Q. Who is eligible for payment?
A. Anyone who received an automated or prerecorded call from Credit One between 2014–2019 without giving permission.