- A federal judge has approved a $425 million settlement in a lawsuit against Capital One concerning its handling of savings accounts.
- The lawsuit alleged Capital One acted deceptively by not informing existing 360 Savings account holders about the new 360 Performance Savings account, which offered a higher interest rate.
- Judge David Novak of the Eastern District of Virginia finalized the settlement, which was revised upwards from an initial proposal of less than $300 million.
- Capital One has denied any wrongdoing, and the court has not determined that the bank acted improperly in the matter.
- Impacted customers who held a 360 Savings account between September 18, 2019 and June 16, 2025 are automatically eligible for a payment of $5 or more, which will be sent to their last known address.
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