Credit One Bank $14M Payout: How much can you get?

Credit One Bank $14M Settlement: Credit One Bank has agreed to pay $14 million to settle a lawsuit that claimed the bank made unwanted robocalls to people between 2014 and 2019. These calls were reportedly made without asking for permission first.

This case falls under the Telephone Consumer Protection Act which protects people from getting automated bot calls or messages they did not agree to get. The money from this settlement will go to people who got these calls, and the payment could be anywhere between $100 to $1,000 depending on their situation.

Why Credit One Is Paying This Settlement

The lawsuit said Credit One Bank and companies working with it used automatic dialing systems and recorded messages to call people. These calls went to both their customers and people who had nothing to do with the bank. Many of these people never gave their permission to be contacted. The law says companies need clear permission before sending robocalls, and in this case, Credit One reportedly didn’t follow that rule.

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Even though the bank did not admit it did anything wrong, it agreed to pay the settlement to avoid further legal issues. The money will be shared with the people who file valid claims. Some of the money will first go toward legal fees and administrative costs, so about \$8 to \$9 million will be left for those filing claims. If someone has records like phone logs or billing statements showing they got the calls, they might get a higher payment. But even if they don’t have proof, they can still get some money.

People will be able to choose how they want to be paid. The options will include bank transfers, checks, or apps like PayPal and Venmo. But before the money is paid out, the court must approve the settlement. Once approved, it will take a few more months for all the claims to be processed and payments to go out.

Who Can File A Claim?

To get money from the settlement, a person has to show that they got robocalls from Credit One Bank or related companies between 2014 and 2019. They must also prove that they didn’t give permission for these calls. People who weren’t customers can still file a claim if they got the calls by mistake. The important thing is being able to show the phone number belonged to them during that time.

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Even if someone isn’t sure whether they qualify, they’re encouraged to go ahead and file a claim. The administrators in charge of this case will check the phone records to see if the number got those calls. Sometimes they might ask for proof of phone number ownership, especially if the number was passed to someone else during those years.

After the court says yes to the settlement, a website will be made where people can file their claims. The form will ask for your name, phone number, contact details, and other documentations. It will also ask them to confirm that they’re telling the truth. Some people might also get emails or letters with a claim number to make the process easier.

The court has not yet said when it will give the final approval. Once that happens, the website should go live in about a month, and people will have 60 to 90 days to file. After the filing deadline, the review process might take up to five months, and people may get their money 6 to 9 months after the court gives the green light. People should keep an eye on the official settlement website for any updates.