How to Get Your Share of the $425 Million Capital One Settlement and When Automatic Payouts Start This Summer

A federal judge approved a revised $425 million class-action settlement on 20 April 2026, offering eligible customers a larger cash payout than the bank's initial proposal. Anyone who held a Capital One 360 Savings account between 18 September 2019 and 16 June 2025 is automatically included and does not need to file a claim form. Payments are expected to be issued on or around 27 July 2026, with electronic payments available to those who opted in before 30 March. The revised deal directs all funds toward customer cash restitution and requires Capital One to raise the rate on 360 Savings accounts to match the higher-yielding 360 Performance Savings product for at least two years. Individual payouts are calculated based on the interest gap between the two accounts, which plaintiffs argued cost customers over $2 billion. The settlement also covers legal fees and service awards for class representatives, with any remaining funds going to a Richmond-based food bank. Customers who closed their accounts before June 2025 are still eligible, and those who have moved should update their address through the official portal.

(Source：International Business Times)