Hope this video helps! See my notes below ❤

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From the Department of Transportation:

Sometimes, when an airline asks for volunteers to give up their seats and fly on a different flight, there are not enough volunteers.  When this occurs, the airline will select passengers to give up their seats.  This is called “involuntary denied boarding” or “bumping.”

For domestic flights:
0 to 1 hour arrival delay no compensation
1 to 2 hour arrival delay 200% of oneway fare (airlines may limit the compensation to $775 if 200% of the oneway fare is higher than $775)
Over 2 hour arrival delay 400% of oneway fare (airlines may limit the compensation to $1,550 if 400% of the oneway fare is higher than $1,550)

For more information go to the Department of Transportation website
and look at Involuntarily Giving Up Your Seat (Bumping).