Capital One to pay $425M to customers over misleading savings account interest rates

Capital One will pay $425 million to settle claims it misled customers by offering two similarly named savings accounts with vastly different interest rates, causing many to lose out on higher earnings. The settlement covers customers who held a 360 Savings account between September 2019 and June 2025. The bank must also raise the interest rate on the lower-yielding account to match the higher one, ensuring fair treatment going forward. Eligible customers will receive payouts automatically within the next few months.