U.S. Bank Faces Lawsuit for Allegedly Sharing Customer Data with Tech Giants
09.09.2024 16:00 1 min. read Alexander Stefanov
A new class action lawsuit has been filed against Capital One, the eighth-largest bank in the U.S. by assets, alleging that the bank secretly gathered and shared sensitive personal and financial data with major tech companies like Facebook, Google, and Microsoft.
The complaint accuses Capital One of using tracking technologies on its website to collect nonpublic personal information (NPI) and personal financial information (PFI) without customer consent.
These tracking mechanisms are claimed to have been operational since at least November 2023.
One plaintiff noticed targeted ads for similar financial products on Facebook shortly after applying for a Capital One credit card, an experience echoed by other plaintiffs who also saw credit card ads after visiting the bank’s website.
The lawsuit alleges that Capital One collected and shared various types of information, including:
- Account details
- Credit card application data
- Pre-approval status
- Employment and bank account information
The plaintiffs accuse the bank of breaching consumer protection laws, infringing on privacy, unjust enrichment, and breaking contracts. They are seeking both financial compensation and a jury trial. With total assets of $630.89 billion as of Q2 2024, Capital One faces significant scrutiny regarding its privacy practices and handling of customer data.
-
1
OKX Re-Enters U.S. Market After $500M Legal Settlement
17.04.2025 20:00 2 min. read -
2
JUST IN: Asia’s First XRP Tracker Fund Debuts with Ripple Backing
18.04.2025 12:38 2 min. read -
3
Trump Slams Fed After ECB Rate Cut, Renews Pressure on Powell
18.04.2025 9:00 1 min. read -
4
U.S. State Targets Coinbase as Federal Crypto Crackdown Fades
19.04.2025 12:00 2 min. read -
5
El Salvador Partners with NVIDIA to Launch its First National AI Lab
22.04.2025 15:35 1 min. read
Here’s What You Need to Know About the SEC’s Next Big Crypto Discussion
The U.S. Securities and Exchange Commission is gearing up for another deep dive into crypto regulation, with its fourth roundtable event set for May 12.
Rumble to Launch Creator-Focused Crypto Wallet With Tether Backing
Rumble is taking a major leap into crypto, unveiling plans to launch its own digital wallet designed for content creators.
Coinbase Becomes First U.S. Exchange to Offer 24/7 Crypto Futures
Coinbase has broken new ground in the U.S. crypto space by launching nonstop Bitcoin and Ethereum futures trading, becoming the first regulated platform in the country to operate around the clock.
Brazil’s Largest Exchange Taps Into Crypto Boom With New Futures Products
Brazil’s main stock exchange, B3, is making a bold move deeper into digital assets with the upcoming launch of Ethereum and Solana futures contracts.
-
1
OKX Re-Enters U.S. Market After $500M Legal Settlement
17.04.2025 20:00 2 min. read -
2
JUST IN: Asia’s First XRP Tracker Fund Debuts with Ripple Backing
18.04.2025 12:38 2 min. read -
3
Trump Slams Fed After ECB Rate Cut, Renews Pressure on Powell
18.04.2025 9:00 1 min. read -
4
U.S. State Targets Coinbase as Federal Crypto Crackdown Fades
19.04.2025 12:00 2 min. read -
5
El Salvador Partners with NVIDIA to Launch its First National AI Lab
22.04.2025 15:35 1 min. read