Capital One Reaches $425 Million Settlement Over Savings Account Interest Rates
Capital One agreed to a $425 million settlement for allegedly paying lower interest rates on older savings accounts and failing to inform customers about higher-yield options.Summary
Capital One has agreed to a $425 million settlement to resolve a lawsuit alleging that the bank paid lower interest rates on older savings accounts and failed to inform customers about higher-yield alternatives. The lawsuit claimed that Capital One did not raise interest rates on its "360 Savings" accounts at the same pace as its "360 Performance Savings" accounts and concealed the fact that the older accounts were no longer its high-yield online savings products. Customers who held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, are automatically included in the settlement class and will receive payments without needing to file a claim. The payout amount depends on how long the account was held and the interest that would have been earned if the higher rates had been applied. Payments are expected to be issued on or about July 21, 2026.
(Source：Headtopics)