Capital One to pay $425 million settlement: Who qualifies, and how much could they get?
Summary
A court in Virginia approved a settlement for a class action lawsuit against Capital One. The lawsuit claimed the bank did not increase interest rates on its 360 Savings accounts as expected.Key Facts
- The settlement involves Capital One and customers with 360 Savings accounts.
- The lawsuit said Capital One failed to raise interest rates on these accounts.
- A Virginia court gave the final approval for the settlement.
- The total settlement amount is $425 million.
- Customers who had 360 Savings accounts during the relevant period may qualify for compensation.
- The exact amount people could receive depends on factors like how long they held the accounts.
- This settlement resolves the class action dispute over interest rates on these accounts.
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