US EditionCapital One Savings Account Settlement: Here's Who Qualifies
Eligible account holders will receive cash payments based on lost interest, and Capital One will equalize rates going forward, officials said.
- A judge approved a $425 million settlement resolving allegations that Capital One paid higher interest rates on new accounts than on existing Savings products.
- Capital One paid a 4.35% APY on Performance Savings compared to a 0.30% APY on Savings, while plaintiffs alleged the bank never informed customers about the higher-rate account.
- Anyone who held a 360 Savings account from Sept 18, 2019, through June 16, 2025, is automatically part of the settlement class and requires no claim to receive payment.
- New York State Attorney General Letitia James said Capital One "assured high returns" before pulling the rug out from under customers; settlement payments are expected on or about July 21.
- Going forward, Capital One will equalize interest rates between Performance Savings and Savings accounts, though the bank denies any wrongdoing in the matter.
13 Articles
13 Articles
Capital One To Pay $425M In Settlement Over Savings Account Claims — Here's What To Know
A federal judge has approved a $425 million settlement with Capital One, resolving a lawsuit that accused the bank of deceptive marketing practices. The case stems from claims that Capital One failed to raise interest rates on its 360 Savings accounts in line with rates offered on its newer 360 Performance Savings accounts, according to the settlement website. Plaintiffs also alleged that the bank continued to market the original 360 Savings acc…
How to claim your cash as $425M Capital One settlement gets final green light
Millions of current and former Capital One customers are set to receive payouts after a federal judge approved a $425 million settlement this week.David Novak signed off on the deal on Monday, closing a case that accused the bank of steering customers away from accounts offering significantly higher interest rates.The legal battle has stretched on for nearly two years. Back in November, Novak rejected an earlier version of the settlement, saying…
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