Skip to Primary Navigation

CFPB sues Capital One for withholding $2 billion in potential savings account interest  

Capital One logo
Photo: Win McNamee/Getty Images

The agency has accused the bank of underpaying savings account interest and misleading customers.

The Consumer Finance Protection Bureau has sued Capital One in a Virginia federal court, accusing it of freezing the returns on one of its high-yield savings account without informing customers of a concurrent better option.

In 2019, Capital One stopped offering its high-yield 360 Savings account to customers, and began

The CFPB

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience