Capital One agreed to pay a total of $425 million to customers who filed a class action lawsuit against the bank in 2024, according to a notice filed in the U.S. federal court in Alexandria, Virginia, in May. A judge approved the settlement, paving the way for settlement payments to go out.
While there has been a ton of attention on the Capital One-Discover merger, the major bank has also been fighting a class action lawsuit regarding its savings account since last year. The lawsuit claims that Capital One pulled a bait-and-switch on savings account customers.
