Capital One wins approval for $425 million savings account settlement

11 articles · Updated · USA TODAY · May 3

A US district judge gave final approval in late April after rejecting an earlier deal in late 2025 and a renegotiation this year.
The class covers customers who held 360 Savings accounts between 18 September 2019 and 16 June 2025, with payouts based partly on foregone interest.
Plaintiffs said Capital One paid lower rates on 360 Savings than nearly identical 360 Performance Savings accounts; the bank denied wrongdoing, and automatic payments are expected around 21 July.

After a $425M settlement, are 'bait-and-switch' savings rates a systemic issue for banks?

Could your own bank be offering a better interest rate on a nearly identical account?