Capital One $425M Settlement: Who Gets Paid?

Capital One has agreed to a $425 million settlement in a class action lawsuit alleging the bank deceptively marketed its savings accounts.

The lawsuit claimed Capital One offered two nearly identical savings products-the 360 Savings and 360 Performance Savings-but paid a lower interest rate on the 360 Savings account after introducing the Performance version in 2019. Capital One denies any wrongdoing but settled to avoid trial.

Who Is Eligible?

Anyone who held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, is part of the settlement class.

How Much Will You Get?

Payments are individualized, calculated based on the interest that would have been earned at the higher Performance Savings rate, minus costs and expenses.

Do You Need to File a Claim?

No. Payments will be sent automatically to eligible account holders around July 21.