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Capital One Reportedly Settling Savings Account Suit for $425 Million
COFCapital One(COF) PYMNTS.com·2025-05-19 03:51

Capital One will reportedly pay $425 million to settle a lawsuit accusing it of cheating savings account depositors.That’s according to a report by Reuters on Friday (May 16), citing court documents. The proposed settlement comes amid similar litigation against Capital One by New York State, and as the banking giant finalizes its merger with Discover.Customers had sued Capital One, accusing the company of falsely promising high interest rates on its 360 Savings accounts while offering much better rates to n ...