Capital One ERISA Forfeiture Class Action Settlement
People who participated in the Capital One Financial Corporation Associate Savings Plan between November 11, 2018 and January 13, 2026.
Who’s Eligible
You may be eligible for the Capital One Financial Corporation settlement if you:
- Participated in the Capital One Financial Corporation Associate Savings Plan at any time between November 11, 2018 and January 13, 2026
- Are a beneficiary of a deceased person who participated in the Plan during that period
- Are an Alternate Payee of a person subject to a Qualified Domestic Relations Order who participated in the Plan during the Class Period
This is a Rule 23 certified class action, and all eligible class members are automatically included.
Eligible States
Quick Eligibility Check
Claim Deadline
What You Need to Do to Get Paid
To get paid from the Capital One Financial Corporation settlement:
No claim form is required. If the Court approves the settlement and you are a class member, payments will be distributed automatically based on Plan records.
- If you currently have an active account with a positive balance in the Capital One Associate Savings Plan, your payment will be deposited directly into your Plan account.
- If you are a former participant and no longer have an active Plan account, the Settlement Administrator will mail you a check. Checks are valid for 180 days from the date of issue.
- If you are a former participant and have not provided the Plan with your current mailing address, contact Class Counsel at Capozzi Adler, P.C. to update your information.
No proof of claim required. Settlement Class members with Active Accounts will receive payments automatically deposited into their Plan accounts. Former Participants will receive checks from the Settlement Administrator based on Plan records.
Settlement Payout
Capital One Financial Corporation settlement payments are calculated on a pro rata basis and will vary by class member. No fixed per-person amount has been announced. Each class member’s share is determined by the length of time they participated in the Plan during the class period, based on Plan account records. The Settlement Administrator calculates each share under a Court-approved Plan of Allocation, so you don’t need to submit your own records or calculations.
Current plan participants with a positive account balance will receive their payment as a deposit into their Plan account. Former participants will receive a check mailed by the Settlement Administrator, valid for 180 days from the issue date. Payments will not be distributed until after the Court grants final approval of the settlement, an independent fiduciary approves the distribution, and all appeals, if any, are resolved.
Settlement Documents
Background of the Lawsuit
Nine plaintiffs sued Capital One Financial Corporation and its Board of Directors and Investment Committee in November 2024, alleging breaches of fiduciary duty under ERISA. The lawsuit centers on how Capital One handled “forfeitures,” which are unvested employer contributions that are returned to the Plan when employees leave before completing two years of service. Plaintiffs argued that ERISA required those forfeited funds to be used to pay the Plan’s administrative expenses, and that Capital One instead used them to fund matching contributions for current participants’ accounts.
Based on that alleged misuse of forfeitures, plaintiffs claimed Capital One violated its fiduciary duties of prudence and loyalty, violated ERISA’s anti-inurement clause, and failed to adequately monitor other plan fiduciaries. Capital One denied all of the allegations and raised several defenses, including that a prior lawsuit on behalf of the Plan was dismissed with prejudice and bars these claims under res judicata, and that the forfeiture practices at issue comply with over six decades of legal guidance permitting forfeitures to offset employer contributions.
After the parties fully briefed Capital One’s motion to dismiss and participated in mediation, they reached a $9,600,000 settlement on September 12, 2025. Capital One continues to deny any wrongdoing. For more information, visit the official settlement website.
Frequently Asked Questions
Who is eligible for the Capital One ERISA settlement?
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Can I opt out of the Capital One ERISA settlement?
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When will Capital One Financial Corporation settlement payments be sent out?
How do I object to the Capital One ERISA settlement?
Settlement Administrator
Capital One ERISA Settlement
c/o Analytics Consulting LLC
P.O. Box 2009
Chanhassen, MN 55317-2009
Case Details
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Disclaimer
The information on this website is free to access and provided for general educational and informational purposes only. It is not legal advice. We summarise settlement information from official notices, court documents, settlement websites, administrators, and other primary sources where available.
Settlement details and deadlines may change. Always refer to the official settlement website or consult a licensed attorney for advice specific to your situation.
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