CAO - Class Action Org

Capital One Settles $9.6M ERISA Lawsuit Over Retirement Mismanagement Capital One has agreed to a $9.6 million settlement to resolve a class action lawsuit alleging mismanagement of employee retirement savings accounts, violating ERISA guidelines. The settlement, covering participants from November 11, 2018, to January 13, 2026, received preliminary court approval on January 13, 2026. Class members will receive a pro rata cash payment, with distribution occurring after final court approval on June 25, 2026. Payments will be deposited into active retirement accounts or mailed as checks if accounts are closed. Participants with a $0 balance or distributions of $5 or less will not receive payments.