$75M Capital One TCPA Class Deal OK’d; Attorneys’ Fees Cut From $22M to $15M

A $75 million class settlement involving Capital One, several debt collection agencies, and debtors has won final court approval in a deal that the court said was “slightly deceivingly” hailed by the parties as the largest of its kind under the Telephone Consumer Protection Act (In re Capital One Tel. Consumer Prot. Act Litig. (Amadeck v. Capital One Fin. Corp.), 2015 BL 36710, N.D. Ill., 12-10064, MDL No. 2416, final settlement approved 2/12/15).

But class counsel’s attorneys’ fee request of $22.6 million—32 percent of the settlement value—exceeds the market rate, Judge James F. Holderman wrote Feb. 12 ...