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Capital One Customers May Qualify for Part of $425M Settlement

This week, Capital One, bank, agreed to a $425 million settlement to resolve claims it failed to raise interest rates on 360 Savings account, without admitting wrongdoing.
Allegedly, Capital One promoted the 360 Savings account as high-interest but froze its rate at 0.3% APY, despite Federal Reserve hikes.
Under the settlement, affected account holders will receive $300 million to cover lost interest and a $125 million portion is earmarked for additional interest payments.
The settlement awaits court approval on Nov. 6, 2025, with the deadline to submit a claim or object on Oct. 2.
Current and former customers who held 360 Savings accounts between Sept. 18, 2019, and June 16, 2025, qualify for payments, after being cheated out of more than $2 billion, the Bureau says.

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La Opinion

Lean Left

Capital One Must Pay $425 Million for Customer Demands

Capital One will have to pay $425 million to some of its customers after collective demand for frozen and misleading interest rates

3 days ago

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Washington Examiner

Lean Right

Capital One class-action lawsuit: Who can claim part of $425 million settlement

Capital One credit card users who managed a particular savings account in the past six years may be eligible to receive payments as part of a $425 million settlement of a class-action lawsuit. In order to meet eligibility for the settlement payments, current and former Capital One customers must have had the banking giant’s 360 Savings account between Sept. 18, 2019, and June 16, 2025. Customers may access the settlement’s website for more infor…

3 days ago·Washington, United States

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