Capital One warns of potential enforcement action over savings accounts
- The Consumer Financial Protection Bureau is considering enforcement action against Capital One regarding online savings accounts that have attracted litigation.
- Capital One received a civil investigative demand from the CFPB in August related to a class action lawsuit filed in July 2023.
- The lawsuit claims Capital One breached contract terms by offering higher-yield savings accounts without notifying existing customers, with six similar lawsuits filed in multiple states.
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Total News Sources0
Leaning Left1Leaning Right0Center3Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 25%
C 75%
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