Capital One Approves $425 Million Settlement for Savings Account Rate Dispute
A federal judge approved a $425 million settlement for Capital One following a class action lawsuit alleging the bank offered lower interest rates on older savings accounts compared to a similar product. The settlement will distribute funds to eligible customers, with payments expected to begin in July 2026. Capital One denies wrongdoing, and the settlement includes a provision to equalize interest rates between its savings accounts.
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Topics: Capital One class action lawsuit interest rates regulatory action settlement