Capital One Reaches $425M Settlement

The settlement aims to compensate account holders who were stuck with a 0.30% interest rate while newer '360 Performance Savings' accounts paid much more.

The judge initially rejected a smaller deal, arguing it shortchanged long-term customers who lost out on potential earnings since 2019.

Eligible customers will soon receive automatic payouts, with the amount determined by their account balances during the period in question.

Capital One has not admitted to any wrongdoing but agreed to the terms to resolve the class-action litigation.