CFPB Sues Capital One for Cheating Consumers Out of More …
1 day ago · The CFPB alleges that Capital One promised consumers that its flagship “360 Savings” account provided one of the nation’s “best” and “highest” interest rates, but the bank froze the interest rate at a low level while rates rose nationwide. Around the same time, Capital One created a virtually identical product, “360 Performance ...
Capital One allegedly cheated customers out of $2 billion in …
21 hours ago · According to disclosures on the Capital One's website, 360 Savings accounts currently carry an interest rate of just under 0.50%. 360 Performance Savings accounts have an interest rate of about 3.74%.
Capital One accused of owing members $2 billion, U.S. watchdog …
11 hours ago · Capital One didn't immediately respond to a query from NPR, but in a statement provided to The Associated Press, it said it is "deeply disappointed to see the CFPB continue its recent pattern of ...
Capital One sued by US watchdog alleging bank cheated …
1 day ago · The CFPB alleges that Capital One kept the rate for its 360 Savings accounts at 0.30% between December 2020 through at least August 2024. The rate for 360 Performance Savings, by contrast, climbed from 0.40% in April 2022 to as high as 4.35% at the start of 2024 — falling slightly to 4.25% by August, the agency noted Tuesday. ...
Capital One accused of ‘cheating millions of customers’ out ... - CNN
1 day ago · The Consumer Financial Protection Bureau (CFPB) accuses Capital One of freezing the interest rates of its flagship “360 Savings” accounts at low levels despite rates rising nationwide and said ...
CFPB sues Capital One alleging it cheated customers out of over …
1 day ago · However, the interest rates of the two options were substantially different, according to the CFPB. Capital One increased the 360 Performance Savings interest rate from 0.4% in April 2022 to 4.35% ...
Capital One Is Accused of Cheating Customers Out of $2 Billion
1 day ago · For years, Capital One held interests artificially low in the high-yield product, to 0.30 percent annually last summer, for instance, even as the Federal Reserve raised rates above 5 percent.
CFPB Sues Capital One Over Alleged $2 Billion In Lost Interest For ...
23 hours ago · The CFPB alleges Capital One deliberately misled customers by hiding the more lucrative 360 Performance Savings account. The bank named and marketed the two accounts similarly, eliminated mentions ...
Capital One sued by CFPB over its high-yield savings accounts
1 day ago · The CFPB said Capital One lowered and froze its 360 Savings account’s APY to 0.30 percent from late 2019 to mid-2024, while it increased the new 360 Performance Savings account’s APY from 0.40 ...
Capital One sued by US CFPB for avoiding billions in interest …
1 day ago · The CFPB also said Capital One kept 360 Savings depositors in the dark when in 2019 it launched the 360 Performance Savings account, which was identical except for carrying a substantially higher ...