Capital One to Pay $425 Million Settlement to 360 Savings Account Holders
Headtopics
Capital One agreed to a $425 million settlement to resolve claims it misled customers about higher-yield savings account options.Summary
Capital One has agreed to a $425 million settlement to resolve a class-action lawsuit alleging the bank misled customers by discouraging them from switching to higher-yield savings accounts. The settlement, approved by a federal judge on April 20, will provide payments to eligible account holders who held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025. The company denies any wrongdoing but chose to settle the case. Payments are expected to be distributed by July 21, with claimants not needing to file a form as the bank already has their information. The payout amount varies based on the duration and timing of the account's holding.
(Source：Headtopics)