Capital One $425M Settlement

Eligible 360 Savings account holders are expected to receive automatic payments by late July without needing to file a claim.

The settlement follows a two-year legal battle after a judge initially rejected a smaller deal that was deemed insufficient for the affected customers.

The payout is intended to compensate for lost interest income since 2019.

This case has drawn renewed attention to the practice of 'rate-baiting' in the banking industry.