The Consumer Financial Protection Bureau's complaint describes how Capital One allegedly misled consumers about its "360 Savings" account, assuring a high-interest rate, but freezing it for years while creating a higher-rate account without informing customers.
CFPB Director Rohit Chopra emphasized the agency's stance, stating, "Banks should not be baiting people with promises they can't live up to," reflecting the agency's commitment to safeguarding consumer interests.
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