capital one settles class-action lawsuit over 360 savings interest rates - Capital One Settles $425 Million Class Action Over 360 Savings Accounts
A federal judge has approved a $425 million class-action settlement for Capital One, benefiting current and former holders of Capital One 360 savings accounts. The lawsuit alleged that Capital One paid lower interest rates to older accounts while offering higher rates to new customers without informing existing account holders. Capital One denied any wrongdoing.The settlement covers account holders from September 18, 2019, to June 16, 2025. Eligible members will receive compensation based on the interest shortfall compared to the 360 Performance Savings account rates. Payments are expected by July 21, 2026. Capital One has also agreed to align interest rates for 360 Savings and 360 Performance Savings accounts going forward.