Capital One is under fire for offering paltry savings account rates to current customers. Here’s what you need to know.

On January 14, 2025, the federal government sued Capital One, accusing it of deceptive practices related to its “360 Savings” ...

The Consumer Financial Protection Bureau (CFPB) has filed a $2 billion lawsuit against Capital One, alleging that the bank deceived millions of consumers with their savings account offerings.

The Consumer Financial Protection Bureau alleged Tuesday the bank obscured an account from customers that paid a rate 14 times higher than one of its other products.

The agency said in a statement Capital One deceived holders of its “360 Savings” account by conflating it with its newer and ...

It said Capital One created a nearly identical product, called 360 Performance Savings, that paid out significantly more in interest — more than 14 times the 360 Savings rate at one point.

Capital One, the ninth largest bank in the US, marketed its 360 Savings account as having one of the highest annual ...