Search for Capital One Is Accused Of Cheating Customers Out Of $2 Billion on Bing

The New York Times News Service Syndicate, Chicago Tribune: Business
Tue, 01/14/2025 - 10:55am

The advertisement from Capital One had many of the same promises that other banks offer for high-yield savings accounts: There were no fees, no minimum deposits and the money would earn much more in interest than in traditional bank accounts. “What’s the catch? There is none,” the bank boasted. But, according to a lawsuit filed against Capital One on Tuesday by the Consumer Financial Protection Bureau, there was one, and it cost depositors more than $2 billion. For years, Capital One held interests artificially low in the high-yield product, to 0.30% annually last summer, for instance, even as the Federal Reserve raised rates above 5%. Banks are generally permitted to pay as little in interest as their customers will permit, but Capital One went too far, according to the lawsuit, by deliberately confusing its customers about its products.

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BING NEWS:

Capital One accused of 'cheating' customers out of $2 billion
The Consumer Financial Protection Bureau is suing Capital One for 'cheating' customers out of $2 billion in interest.
01/14/2025 - 8:32 am | View Link
Capital One accused of cheating customers out of $2 billion in new lawsuit
The Consumer Financial Protection Bureau took aim at Capital One's promises and handling of its '360 Savings' accounts.
01/14/2025 - 8:00 am | View Link
Capital One Accused Of Cheating Consumers Out Of $2 Billion In Interest Earnings
The Consumer Financial Protection Bureau announced Tuesday that it has filed a lawsuit against Capital One Bank for misleading customers about their savings account interest rates.
01/14/2025 - 7:54 am | View Link
Afternoon Briefing: Capital One accused of cheating customers out of $2 billion
Banks are generally permitted to pay as little in interest as their customers will permit, but Capital One went too far, according to the lawsuit filed by the Consumer Financial Protection Bureau, by ...
01/14/2025 - 7:00 am | View Link
Capital One Kept $2B In Savings Account Interest From Banking Customers, Cfpb Suit Says
The federal government is suing Captial One, accusing the banking giant of deceiving consumers and withholding more than $2 billion in interest payments on savings accounts.The Consumer Financial ...
01/14/2025 - 6:16 am | View Link
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BING SEARCH:

CFPB sues Capital One for 'cheating' customers out of over $2 ...
CFPB sues Capital One for 'cheating' customers out of over $2 billion in interest. Despite its relatively low interest rate, the CFPB alleged, the 360 Savings account was advertised as a high ...
01/14/2025 - 12:59 pm | View Website
CFPB Sues Capital One for Cheating Consumers Out of More Than ...
Kept consumers in the dark to maintain a two-tier system: Capital One misrepresented to existing customers that its 360 Savings account was and would be its only 360 high-interest savings product with the features, terms, and conditions of 360 Savings and obscured from those customers its newer, much-higher-interest 360 Performance Savings ...
01/14/2025 - 12:08 pm | View Website
Capital One Is Accused of Cheating Customers Out of $2 Billion
The Consumer Financial Protection Bureau filed a lawsuit on Tuesday against Capital One, accusing the bank of “cheating millions of customers out of more than $2 billion in interest.”
01/14/2025 - 11:04 am | View Website
Regulators Sue Capital One For ‘Cheating’ People ...
Topline. Financial regulators on Tuesday accused Capital One of “cheating” millions of customers of more than $2 billion in interest by freezing the rate on their accounts even as rates soared ...
01/14/2025 - 10:35 am | View Website
Capital One accused of ‘cheating millions of customers’ out ...
Capital One is being sued by the US government’s consumer watchdog agency for “cheating millions of consumers” and not paying more than $2 billion in interest to holders of its high-interest ...
01/14/2025 - 9:52 am | View Website
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Search for Capital One Is Accused Of Cheating Customers Out Of $2 Billion on Bing

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