"Millions of Capital One customers could soon see a boost to their bank accounts after a federal judge approved a $425 million lawsuit settlement following a two-year court battle."
"The bank was accused of steering customers away from savings accounts that offered higher interest rates."
"The settlement applies to customers who had a Capital One 360 savings account between September 2019 and June 2025."
"The judge rejected an initial settlement last November for not fairly compensating customers."
A federal judge has approved a $425 million settlement for Capital One customers after allegations that the bank directed them away from higher interest savings accounts. This settlement affects customers who held a Capital One 360 savings account from September 2019 to June 2025. An earlier settlement proposal was rejected for inadequate compensation to customers, leading to this new approval.
Read at ABC7 Los Angeles
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