CFPB Sues Capital One for Cheating Consumers Out of More Than …

Jan 14, 2025 · The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest. ... The CFPB alleges that Capital One schemed to keep 360 Savings …

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CFPB Sues Capital One For Cheating Consumers Out Of More Than …

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Jan 14, 2025 · The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest. ... The CFPB alleges that Capital One schemed to keep 360 Savings …

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Capital One Accused Of ‘cheating Millions Of Customers’ Out ... - CNN

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Jan 14, 2025 · 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 …

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Capital One Allegedly Cheated Customers Out Of $2 Billion In …

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Jan 14, 2025 · According to disclosures on the Capital One's website, 360 Savings accounts currently carry an interest rate of just under 0.50%. 360 Performance Savings accounts have …

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U.S. Accuses Capital One Of ‘Cheating’ Savings Account Holders …

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Jan 14, 2025 · Financial regulators on Tuesday accused Capital One of “cheating” millions of customers of more than $2 billion in interest by freezing the rate on their accounts even as …

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Capital One Accused Of Cheating Customers Out Of $2 Billion In New ...

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Jan 14, 2025 · 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 …

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Capital One Accused Of Owing Members $2 Billion, U.S. Watchdog …

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Jan 15, 2025 · Capital One accused of owing members $2 ... alleging bank cheated customers out of $2 billion. ... The agency alleges the bank "schemed" for members to keep their lower …

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Capital One Cheated Customers Out Of $2 Billion By Keeping …

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Jan 15, 2025 · Capital One Financial Corp. allegedly cheated customers out of $2 billion by keeping them in the dark about a savings program offering higher interest rates on their …

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Capital One Sued For 'cheating' Customers Out Of More Than $2 …

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Jan 14, 2025 · Capital One has been sued by the Consumer Financial Protection Bureau (CFPB) for allegedly "cheating" millions of customers out of more than $2 billion of interest payments …

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Capital One Sued By CFPB For Allegedly Cheating Customers Out …

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Jan 14, 2025 · The CFPB alleges that Capital One obscured the new product from its 360 Savings accountholders and cost millions of consumers more than $2 billion in lost interest payments.

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Capital One Sued; Cheated Customers Out Of $2 Billion, Feds Said

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Jan 17, 2025 · The suit, filed Tuesday, alleges customers were cheated out of more than $2 billion in interest through Capital One’s flagship “360 Savings” accounts.

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U.S. Watchdog Sues Capital One, Alleging Bank Cheated Customers …

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Jan 15, 2025 · The Consumer Finance Protection Bureau is suing Capital One, as it claims the bank failed to pay more than $2 billion in interest to its customers. The consumer bureau, a …

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Capital One Sued By US Watchdog Alleging Bank Cheated …

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Jan 14, 2025 · 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 …

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Capital One Accused Of 'cheating' Customers Out Of $2 Billion - MSN

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The consumer banking watchdog accuses Capital One of cheating savers out of more than $2 billion in interest payments. Watch ICYMI This Week: Good news for homebuyers in 2025

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Capital One's Devious Scheme Tricked Customers Out Of $2 Billion.

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Jan 14, 2025 · Capital One has been accused of 'cheating' customers out of $2 billion in interest payments on savings accounts. The bank, which is among the largest in the US, was sued on …

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FAQs about CFPB Sues Capital One for Cheating Consumers Out of More Than … Coupon?

Did capital one 'cheat' customers?

Financial regulators on Tuesday accused Capital One of “cheating” millions of customers of more than $2 billion in interest by freezing the rate on their accounts even as rates soared nationwide. The bank misled its customers after promising a new savings account with a higher interest rate not ... [+] ...

Is Capital One cheating savers out of $2 billion?

Speaking of banks, Capital One is in hot water with the Consumer Financial Protection Bureau. The consumer banking watchdog accuses Capital One of cheating savers out of more than $2 billion in interest payments. At issue are two of Capital One’s savings accounts with very similar names, but very different interest rates. ...

Is Capital One suing Capital One for cheating?

It then introduced an almost identical 360 Performance Savings account, differing only in that it paid out “substantially more” in interest, the agency said. “The CFPB is suing Capital One for cheating families out of billions of dollars on their savings accounts,” said CFPB Director Rohit Chopra in a statement. ...

How did Capital One avoid paying $2 billion?

The bank had earlier advertised that account as having “one of the nation’s highest savings rates.” The agency estimated that Capital One avoided paying $2 billion by not automatically converting each 360 Savings account to a 360 Performance Savings account. ...

Did Capital One mislead customers?

The consumer bureau sued Capital One in mid-January, arguing that the bank misled customers by creating a new high-yield account called 360 Performance Savings, while letting an existing account, 360 Savings, languish at a lower interest rate. The bank had earlier advertised that account as having “one of the nation’s highest savings rates.” ...

Did Capital One mislead customers about high-interest savings accounts?

January 14, 2025 / 6:45 PM EST / CBS/AP Capital One was sued by the Consumer Financial Protection Bureau for allegedly misleading consumers about its offerings for high-interest savings accounts. As a result, customers lost more than $2 billion in potential interest payments, the lawsuit claims. ...