Capital One 360 Settlement : l'analyse économique

Capital One customers who qualify will automatically receive a check around July 27. Capital One 360 Settlement s'impose comme l'un des sujets qui mobilisent l'attention en United States ce jeudi.

Les faits

• Capital One customers who qualify will automatically receive a check around July 27.
• A settlement check may be on the way if you owned a 360 Savings account between 2019 and 2025.
• A federal judge approved a $425 million settlement from Capital One for a class action lawsuit over interest rates on its savings accounts.
• The Consumer Financial Protection Bureau accused Capital One of failing to raise interest rates on its 360 Savings account, instead freezing interest rates at a "low level while rates rose nationwide.
• Around the same time, Capital One created a virtually identical product, '360 Performance Savings,' that differed from 360 Savings only in that it paid out substantially more in interest — at one point more than 14 times the 360 Savings rate," the CFPB said.

L'essentiel

Dans le détail, a settlement check may be on the way if you owned a 360 Savings account between 2019 and 2025.

Sur le fond, a federal judge approved a $425 million settlement from Capital One for a class action lawsuit over interest rates on its savings accounts.

Concrètement, the Consumer Financial Protection Bureau accused Capital One of failing to raise interest rates on its 360 Savings account, instead freezing interest rates at a "low level while rates rose nationwide.

Au-delà de ce constat, Around the same time, Capital One created a virtually identical product, '360 Performance Savings,' that differed from 360 Savings only in that it paid out substantially more in interest — at one point more than 14 times the 360 Savings rate," the CFPB said.

Reste à préciser que the $425 million settlement involves the bank's popular 360 Savings accounts, which a lawsuit alleges was "deceptively marketed," "cheating" millions of customers out of more than $2 billion in interest.

Les chiffres

À noter par ailleurs : Anyone who had a 360 Savings account between Sept.

Plus précisément, If there is no appeal, settlement payments are set to go out around July 27, 2026.

Dans la foulée, Customers who only had a 360 Performance Savings account are not eligible.

À ce stade, your payment will be based on how much extra interest you would have earned — the difference between what your 360 Savings account actually paid and what the 360 Performance Savings account was paying during that period.

Le contexte

Reste à préciser que Capital One denied the allegations in the lawsuit, but agreed to settle.

À noter par ailleurs : Capital One denies all claims asserted against it in the Action, denies all allegations of wrongdoing and liability, and denies all material allegations of the Complaint," the complaint states.

Plus précisément, the Court has not determined that Capital One did anything wrong; instead, the Plaintiffs and Capital One have decided to settle the lawsuit.

Dans la foulée, If an appeal is filed, payments will be postponed until it is resolved.

À ce stade, the remaining money gets divided among all eligible customers.

Recherches associées

Plusieurs requêtes connexes accompagnent ce sujet : Capital One verse 425 millions de dollars en règlement pour des comptes d’épargne à différents taux.

À retenir

• A settlement check may be on the way if you owned a 360 Savings account between 2019 and 2025.
• A federal judge approved a $425 million settlement from Capital One for a class action lawsuit over interest rates on its savings accounts.
• The Consumer Financial Protection Bureau accused Capital One of failing to raise interest rates on its 360 Savings account, instead freezing interest rates at a "low level while rates rose nationwide.
• Recherches qui explosent : Capital One verse 425 millions de dollars en règlement pour des comptes d’épargne à différents taux.