April 23, 2026, 11:21 a.m. ET
Some Capital One account holders could also be eligible for a money fee as a part of a $425 million settlement in a category motion lawsuit towards the corporate.
A U.S. District Court choose issued remaining approval of the settlement on April 20, months after the courtroom rejected the first settlement agreement within the case in late 2025. It was renegotiated earlier this 12 months earlier than receiving remaining approval this week.
The lawsuit alleged that Capital One deceived clients about rates of interest associated to a few of its financial savings account choices, in line with court filings on the settlement website.
Capital One has denied the claims within the lawsuit and any allegations of wrongdoing. Both sides in the end agreed to a settlement to keep away from going to trial.
Here’s what to know concerning the settlement, together with who’s eligible for fee.
What is the Capital One settlement about?
The class motion lawsuit towards Capital One pertains to two varieties of financial savings accounts the corporate has provided: 360 Savings and 360 Performance Savings accounts.
The plaintiffs alleged that the 2 varieties of financial savings accounts are an identical, apart from the rate of interest Capital One paid on them.
According to the filings, Capital One provided the 360 Savings accounts from 2013 to 2019, which is when it started providing 360 Performance Savings, a separate kind of account.
Though the corporate stopped providing 360 Savings accounts to clients, Capital One continued to service the present accounts beneath this system, the filings mentioned.
The lawsuit alleged that since 2019, Capital One has paid the next rate of interest on 360 Performance Savings than it paid on 360 Savings, regardless of the 2 accounts being in any other case an identical.
As a consequence, the plaintiffs alleged that Capital One deceptively marketed the 360 Savings account and hid rate of interest disparities. The firm denied the claims.
Who’s eligible for fee within the Capital One settlement?
The settlement class, or the group eligible for fee, consists of anybody who maintained a Capital One 360 Savings account at any level between Sept. 18, 2019, and June 16, 2025.
How a lot cash are you able to get from Capital One settlement?
Each member of the settlement class will obtain an individualized fee.
The complete will first be calculated based mostly on the quantity of curiosity the account holder would have earned if the account had been receiving the identical rate of interest as a 360 Performance Savings account.
The remaining settlement fund after deducting these prices and bills will then be break up amongst recipients based mostly on their particular person quantities, in line with the settlement web site.
Do it’s important to file a declare within the Capital One settlement?
No, you needn’t file a declare to obtain a fee within the Capital One settlement. All eligible members will obtain their fee robotically.
Payments are anticipated to be despatched round July 21, in line with the settlement web site.
Melina Khan is a nationwide trending reporter for USA TODAY. Keep up along with her on X @melinakh and Instagram @bymelinakhan.
