Judge approves $425 million Capital One settlement. Here's what customers should know.
A judge approved a $425 million settlement for Capital One customers who held 360 Savings accounts between September 2019 and June 2025 amid claims of undisclosed higher-rate alternatives.Summary
A judge has approved a $425 million settlement resolving a lawsuit that alleges Capital One paid lower interest rates on older 360 Savings accounts while offering higher rates on its 360 Performance Savings account without clearly informing customers. Eligible account holders, including joint and co-holders who maintained qualifying 360 Savings accounts between September 18, 2019, and June 16, 2025, can receive payments without filing claims. Payouts reflect the extra interest each account would have earned at the higher rate, and after deductions for legal and administrative costs, remaining funds will be distributed among eligible customers. Payments are expected around July 21, with electronic election deadlines having passed and checks mailed for amounts over $5 unless electronic delivery was selected.
(Source：Cbs News)