$425M payout finalized
Cash payments for eligible account holders
Capital One has agreed to a $425 million settlement in a class-action lawsuit related to savings account interest rates, paving the way for cash payments to eligible customers.
A federal court granted final approval of the settlement in April after an initial agreement was rejected in late 2025 and later renegotiated.
The lawsuit centered on differences between the bank’s “360 Savings” and “360 Performance Savings” accounts. Plaintiffs alleged that while the accounts were similar in structure, Capital One began offering higher interest rates on the Performance accounts starting in 2019 without adequately informing existing customers.
Capital One denied any wrongdoing but agreed to settle in order to avoid prolonged litigation and associated costs.
The settlement covers customers who held a 360 Savings account between September 18, 2019, and June 16, 2025. Individual payouts will vary based on the amount of interest customers would have earned had their accounts received the higher rates offered by the Performance Savings accounts.
Eligible account holders will not need to file a claim, as payments will be issued automatically based on existing account records. Distribution of funds is expected to begin on or around July 21.
