See If You Qualify For The Capital One $425 Million Class Action Settlement

If you had a Capital One 360 savings account between Sept. 2019 and June 2025, you may be eligible to receive payment as part of a $425 million settlement. According to a notice filed in the United States federal court in Alexandria, Virginia, Capital One customers filed a class action lawsuit against the bank in 2024. Earlier this year, the Consumer Financial Protection Bureau (CFPB) also sued Capital One, alleging the company froze its rate at a low level for years, despite increasing national rates. As a result, customers were cheated out of more than $2 billion in lost interest payments, according to the Bureau. 

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The CFPB dropped the lawsuit in February, but Capital One has agreed to pay $425 million in a separate class action lawsuit settlement. Here’s what you need to know about the class action settlement. Current and former customers who maintained a Capital One 360 Savings account between Sept. 18, 2019, and June 16, 2025, qualify for payments. Account holders will receive payments totalling what they “would have earned if their 360 Savings account(s) had paid the interest rate then applicable to the 360 Performance Savings account,” according to the settlement. The settlement awaits court approval, with a hearing slated for Nov. 6. The deadline to submit a claim or write to the court objecting to the settlement is Oct. 2.

Source: USA Today