Capital One $425M Class Action Settlement: Do You Qualify?:
Capital One agreed to a $425 million settlement over its 360 Savings account interest rates ...
kiplinger.com/personal-finance/banking/the-425-million-capital-one-settlement-find-out-whos-eligible-for-a-payout-and-what-happened
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resolution between disputing parties about a legal case
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Key FactsCapital One Accused of Defrauding Customers of $2 Billion
Jan 14, 2025 · Reading time: ~30 sec.
Summary created with AI assistance · Source: nytimes.com
Summary created with AI assistance · Source: nytimes.com
- The Consumer Financial Protection Bureau filed a lawsuit against Capital One for underpaying interest on savings accounts.
- The lawsuit claims the bank cheated customers out of over $2 billion in interest while rates were increasing.
- Capital One confused customers with two similarly named account options, obscuring the higher interest rate of 360 Performance Savings.
- A Capital One spokesperson denied the allegations and stated the bank would contest the claims in court.
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