Capital One $425M Settlement: Who Is Eligible for Payout?
Summary
A federal judge approved a $425 million settlement for Capital One customers linked to its 360 Savings accounts. The case claimed Capital One paid lower interest rates on older accounts compared to its newer 360 Performance Savings accounts. Customers who held the older accounts between September 18, 2019, and June 16, 2025, may receive compensation without needing to file a claim.Key Facts
- The settlement is $425 million to resolve claims about differing interest rates between two Capital One savings accounts.
- Capital One denied any wrongdoing but agreed to the settlement.
- Eligible customers held a 360 Savings account, not a 360 Performance Savings account, during the specified period.
- Payments will be calculated using Capital One’s records; no claim is needed from customers.
- The amount each person receives depends on how long the account was held and the balance during the period.
- Payments are expected by late July 2024, possibly July 27.
- After the settlement, interest rates on affected 360 Savings accounts will increase.
- If the court decision is appealed, the payment schedule may be delayed.
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