Capital One customers could qualify for a payment as part of a $425 million settlement. In 2024, the company was sued by customers in a class action lawsuit who claimed that the bank capped savings account interest rates at a low rate for a few years while touting the accounts as “high interest.” The settlement follows a Consumer Financial Protection Bureau lawsuit over the same issue, with this meaning customers were shortchanged more than $2 billion in lost interest payments, the Bureau said.
Capital One Bank Class Action Settlement 2025
Even as the bureau’s suit in February was dismissed, Capital One has agreed to pay out $425 million in a separate class-action lawsuit settlement. As of now, no announcement has been made by the settlement administrator on this settlement. The last hearing has been scheduled for November 6, 2025.
It is mentioned that a claim form is mandatory to receive the payments. Learn more about the Capital One Bank class action lawsuit, including how to file its claim and its potential payout amounts for impacted consumers.
Capital One Bank Settlement 2025 – Overview
| Article On | Capital One Bank Class Action Settlement 2025 |
| Country | United States |
| Company Under Lawsuit | Capital One Bank |
| Settlement Amount | $425 million |
| Payment Date | Yet to be finalized |
| Period | September 18, 2019, through June 16, 2025 |
| Objection Deadline | October 2, 2025 |
| Final Approving Hearing Date | November 6, 2025 |
| Official Website | capitalone360savingsaccountlitigation.com |
Capital One Bank Settlement 2025 – Background
The Consumer Financial Protection Bureau(CFPB) charged Capital One Bank with holding the interest rate low for the 360 Savings account. The case arises from Capital One charging varying interest rates for its 360 Savings products. Existing customers with older 360 Savings accounts allegedly did not benefit from the same rate boosts as those opening the new 360 Performance Savings accounts.
In court documents, these discrepancies resulted in many long-standing customers earning significantly less than they might have, sometimes for several years. Capital One is accused in the lawsuit of not clearly disclosing rate changes and account rewards. Experts point out that while banks make rate changes quite often, they are required by law to give customers notice openly, particularly when newer accounts are more profitable.
Who is Eligible for the Capital One $425M Settlement in 2025?
Eligibility for the Capital One $425M Settlement 2025 is simple. The applicants need to –
- Capital One 360 Savings account holders from September 18, 2019, to June 16, 2025. Joint account holders also qualify for this settlement.
- Even clients who closed accounts during this time could be eligible for a lump sum, as long as they also update their data by the October 2, 2025, cutoff.
Note: No claim forms are needed for automatic payments, but keeping your contact information current helps ensure you don’t miss out on your portion.
Capital One Bank $425 Settlement 2025 – Payment Status
The date on which claimants will receive the payouts of the Capital One Bank Settlement has not been finalized yet by its administrators. However, the other key dates of this settlement are –
| Exclusion Deadline | October 2, 2025 |
| Objection Deadline | October 2, 2025 |
| Final Approval Hearing | November 6, 2025 |
| Payment Mode Selection Deadline | October 2, 2025 |
How Much Will Claimants Receive Under This Settlement?
The $425 million Capital One Bank settlement will be distributed in two parts:
- $300 million will compensate all members of the class action lawsuit with the amount of interest they would have accrued had their account been earning the same interest rates as the 360 Performance Savings account. The balance that each member will receive will depend on how long they have had the account and what the 360 Performance Savings account rates were at the time they had the 360 Savings account.
- The remaining $125 million will be allocated to customers who have a 360 Savings account remaining. Their accounts will have a minimum of twice the national savings account average rate, according to the FDIC definition.
The actual amount that every eligible recipient will receive has yet to be worked out. Nevertheless, it’s already estimated that existing holders of the 360 Savings account (or those who close the savings account before October 2, 2025) will receive a 15% higher payout than those who do not close their savings account.
What is CFPB’s role in this Settlement?
The Consumer Financial Protection Bureau (CFPB) is responsible for the administration. Based on the CFPB ‘s lawsuit, it is suing Capital One supposedly deceived customers by advertising the 360 savings account as its high-interest account, but further created a new version, a higher-income account, without converting the older accounts or informing the current customers.
The CFPB charged that Capital One concealed the news of new earning accounts from the current 360 savings account holders and left them in low earning accounts. The customer claims that Capital One avoided paying more than $2 billion in interest to the account owners from September 18, 2019, to June 16, 2025, as a result.
Bottom Line
The Capital One $425M Class Action settlement is a wake-up call for banks and consumers alike. If you were a victim of an affected account, acting quickly may lead to substantial compensation. Between 2019 and 2025, if you are a Capital One customer and have suffered identity or financial losses, then you are entitled to compensation. Aside from the payment, this case highlights financial prudence and how one needs to recognize how slight banking policy alterations influence long-term savings.
FAQs
Am I eligible for the Capital One $425M settlement payout?
Yes, if you are or were a Capital One 360 Savings account holder from September 18, 2019, to June 16, 2025.
Do you need to submit a claim in order to receive a payment?
No claim is necessary. Eligible members receive payments automatically, but may select their payment method online.
What is the deadline for choosing your payment method?
The payment method should be chosen by October 2, 2025, by entering the settlement notice ID and PIN.
Has the court approved the $425M Capital One Bank settlement in 2025?
No. On November 6, 2025, the $425M Capital One Bank settlement will be approved.
I’m Daniel, a Finance Expert and Economist who loves breaking down complex financial ideas into simple, practical insights. Over the years, I’ve worked with investment strategies, market analysis, and economic trends to help people make smarter money decisions. My goal is to share knowledge that empowers readers to build financial growth and long-term stability.