If You Held a Capital One 360 Savings Account
If you held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, you may be eligible for compensation as part of a $425 million settlement payment.
The case stems from allegations that Capital One misled customers by freezing interest rates on its 360 Savings account while promoting newer accounts with significantly higher yields.
Background: Why Capital One Is Paying
- 2019–2025: Capital One allegedly froze the 360 Savings account rate at 0.3%.
- At the same time, its newer 360 Performance Savings account increased rates to as high as 4.3% in 2022, following Federal Reserve rate hikes.
- Customers of the 360 Savings account were reportedly not notified about the higher-yield option.
- The Consumer Financial Protection Bureau (CFPB) estimated that customers lost over $2 billion in interest.
- Although the CFPB dropped its lawsuit in February 2025, Capital One agreed to resolve a related class action lawsuit for $425 million.
Who Qualifies for Payment
Eligibility Requirement & Details
| Eligibility Requirement | Details |
|---|---|
| Account Type | Capital One 360 Savings account |
| Time Period | Held an account between Sept. 18, 2019 – June 16, 2025 |
| Status | Both current and former account holders qualify |
How Much Will Customers Receive?
Payouts are designed to compensate customers for lost interest.
| Payment Category | Details |
|---|---|
| Back Payments | Customers will receive what they would have earned if their account had matched the 360 Performance Savings rate. |
| Future Payments | For customers still holding a 360 Savings account, interest will be adjusted to at least 2x the FDIC national average. |
Settlement Timeline
| Event | Date |
|---|---|
| Claim / Objection Deadline | October 2, 2025 |
| Court Hearing for Approval | November 6, 2025 |
| Payments Begin | After final approval and claim processing |
Why This Case Matters
This lawsuit highlights the importance of truthful financial advertising and protecting consumers from deceptive practices.
Capital One marketed its 360 Savings account as a “high-interest account,” but froze rates at low levels while promoting other accounts at much higher returns.
Conclusion
The $425 million Capital One class action settlement is not just about money—it’s about fairness, transparency, and consumer rights. If you had a Capital One 360 Savings account between September 2019 and June 2025, you may be entitled to compensation.
FAQs
Q1. Who is eligible for the $425 million Capital One settlement?
A. Anyone who held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, including both current and former account holders, is eligible.
Q2. How much compensation will customers receive from the settlement?
A. Payouts will cover lost interest earnings. Customers will receive back payments based on what they would have earned if their account matched the 360 Performance Savings rate. Current account holders will also receive higher adjusted interest moving forward.
Q3. When will settlement payments be distributed?
A. The claim and objection deadline is October 2, 2025, with a court approval hearing on November 6, 2025. Payments will begin after final approval and processing.
