Overview

• The $425 million agreement covers customers who held a 360 Savings account from Sept. 18, 2019 through June 16, 2025 and addresses claims that frozen rates cost them over $2 billion in lost interest.
• Without admitting wrongdoing, Capital One earmarked $125 million to maintain at least double the FDIC national average savings rate on open accounts until additional interest payments are fully distributed.
• Awards will be determined by each account’s duration and the interest shortfall compared to the 360 Performance Savings rate, with multipliers applied differently for closed versus active accounts.
• Accountholders who close or convert their 360 Savings account to a 360 Performance Savings account by Oct. 2 qualify for a roughly 15% larger cash payment instead of future interest credits.
• A Virginia federal judge has scheduled a final approval hearing on Nov. 6, 2025, after which payment disbursements will proceed under court supervision.