Capital One's $425M Savings Settlement Approved
A federal court has granted final approval to Capital One's $425 million settlement over allegations that the bank misled holders of its 360 Savings accounts about interest rates. Eligible customers will receive automatic payments expected around July 21, with no need to file a claim. The settlement resolves claims that Capital One failed to pay promised promotional rates.
Key facts
- Capital One agreed to a $425 million settlement
- Settlement covers 360 Savings account holders
- Payments are automatic, no claim filing required
- Payments expected around July 21
- Allegations involve misleading interest rate promises
- Final court approval granted
Entities
Institutions
- Capital One
Sources
- Quartz —