According to a class-action lawsuit, one of the biggest banks in the US has denied its customers their money and caused them to be in a state of disarray.
Daniel Zepeda, lead plaintiff, claims that the McLean-based McLean lender, between January 15th to 18th of this year, “left thousands banking customers in McLean, Virginia, unable access their accounts, receive direct deposit, or process payments” after an outage.
Capital One is accused of failing to restore the access within a reasonable time frame.
This lawsuit is seeking damages and an injunction arising out of the defendants’ illegal conduct. These include denying Capital One account holders access to funds and failing to provide funds in a timely manner.
Many people struggled to meet their basic needs, such as rent, food, gas, and electricity. In addition, failure to pay bills can lead to late fees that further increase the strain on finances. .”
Zepeda claims he moved $280 to Capital One from his Wells Fargo at the same time as the power outage, but he was not able to get the money for four days. The money was not available the same day as it had been wired.
Capital One owes Mr. Zepeda any profits it made by holding funds on “float”, when these funds should have been in his account, for him to use.”
In a jury trial, the lawsuit seeks restitution for affected customers and an injunction.
According to Federal Reserve statistics, Capital One has approximately 483.4 billion dollars in assets.
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Sources of Images include Pixabay Creative Commons & Midjourney
As new information becomes available, this post, $483,857,000,000 bank accused of denying customers’ access to funds for days, preventing account holders from being able to buy basic necessities, may change.
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