A massive class-action lawsuit has been filed against Capital One, alleging the bank denied customers access to their funds for several days, causing significant hardship.
Customers Left High and Dry
The lawsuit, spearheaded by plaintiff Daniel Zepeda, claims that a system outage between January 15th and 18th prevented thousands of Capital One customers from accessing their accounts, making payments, or receiving direct deposits. This left many struggling to pay for essentials like food, rent, and utilities, and resulted in additional late fees.
Zepeda’s Experience
Zepeda specifically cites an instance where a $280 transfer from his Wells Fargo account to Capital One remained inaccessible for four days, despite Capital One’s promise of same-day availability. The lawsuit argues that Capital One should compensate him for this delay, including interest and any profits the bank made during the period the funds were unavailable.
What the Lawsuit Demands
The lawsuit seeks compensation for affected customers, including:
- Compensatory damages for financial losses.
- Interest on late deposits.
- Punitive damages (where applicable).
- Injunctive relief to prevent future occurrences.
- Restitution and disgorgement of improperly held funds.
The case will be decided by a jury. Capital One, the ninth-largest bank in the US with $483.4 billion in assets, is yet to respond publicly to the allegations.
