Capital One Is Sued by CFPB. Why It Won’t Affect Discover Acquisition.
The Consumer Financial Protection Bureau is accusing the bank of illegally misleading millions of customers about its savings accounts.
Capital One accused of ‘cheating millions of customers’ out of interest rate payments
Capital One is being sued by the US government’s consumer watchdog agency for “cheating millions of consumers” and not paying more than $2 billion in interest to holders of its high-interest savings accounts.
Capital One cheated customers out of $2 billion by keeping deposits in lower-yield accounts, CFPB says
The Consumer Financial Protection Bureau is suing Capital One, which it says kept customers in the dark about higher-yielding savings accounts.
Capital One sued by CFPB for allegedly cheating customers out of $2 billion
The U.S. Consumer Financial Protection Bureau is suing Capital One, claiming the company cheated customers out of $2 billion by misleading them.
Capital One allegedly cheated customers out of $2 billion in interest, CFPB claims
The CFPB is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts.
Capital One accused of cheating customers out of $2 billion
Capital One messed with certain saving accounts to confuse customers, costing them $2 billion, according to federal investigators.
CFPB sues Capital One alleging it cheated customers out of over $2 billion in interest
Despite its relatively low interest rate, the CFPB alleged, the 360 Savings account was advertised as a high-interest savings account.
Capital One Is Sued by Regulator Over the Bank’s Savings Accounts
The Consumer Financial Protection Bureau says millions of customers lost out on $2 billion in interest payments.
Capital One kept interest payments low on ‘high-interest’ savings accounts, regulators claim
In response, Capital One said that it strongly disagreed with the CFPB’s allegations and plans to “vigorously defend” itself in court. The banking giant added that it was “deeply disappointed to see the CFPB continue its recent pattern of filing eleventh-hour lawsuits ahead of a change in administration.”
Capital One Sued by US Watchdog Alleging Bank Cheated Customers Out of $2 Billion
A U.S. watchdog is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts — and “cheating” customers out of more than $2 billion in lost interest p
What's In Your Wallet? Likely Less Money, If You Saved With Capital One, CFPB Suit Alleges
Key Takeaways Capital One lowered and froze interest rates on its popular "360 Savings" account while raising interest rates on the similarly-named "360 Performance Savings" account, the Consumer Financial Protection Bureau said in a lawsuit filed Tuesday.
Secrets of Capital One’s Alleged Scam Revealed
Capital One has been sued by the Consumer Financial Protection Bureau for allegedly purposefully misguiding customers on its ...
Capital One Accused of Misleading Customers on Savings Rates
Capital One Financial Corp. misled customers when it rolled out a new savings account with a higher interest rate it didn’t ...
Why Did Capital One Stock Rise 36% In The Last Year?
Capital One (NYSE: COF) stock has fared well, rising by about 36% since early 2024. This compares to the S&P 500 which ...