Hey, Capital One customers, you might soon have something in your wallet as a result of this suit

 

Headline:  New York Times, 5/17/2025

Simon J. Levien reports:

Depositors who sued the bank said that Capital One falsely promised higher interest rates on 360 Savings accounts, which had a fixed rate of 0.3 percent, and did not adequately advertise its better rates on 360 Performance Savings accounts. 

The higher-yield account had an interest rate that was as high as more than 4 percent, according to the suit. 

As a part of the settlement, $300 million will go to depositors to make up for the interest they would have earned in the higher-yield account.

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