Capital One to Pay $425 Million in Settlement for Interest Rate Dispute
Capital One has agreed to a $425 million settlement in a class action lawsuit related to interest rates on its savings accounts. The lawsuit alleged that the bank paid higher returns on the 360 Performance Savings Account compared to the 360 Savings Account, while not clearly communicating the change. Eligible customers will receive automatic payments.
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Topics: Capital One class action lawsuit financial compensation savings accounts settlement