Particle.news
Download on the App Store
4 ARTICLES
·
last wk.

Capital One Agrees to $425M Settlement Over Frozen 360 Savings Rates

Payments are based on lost earnings from withheld rate increases, requiring account holders to select options by October 2 under terms that guarantee future elevated rates.

Image

Overview

  • Settlement resolves claims that Capital One froze 360 Savings rates from September 18, 2019, to June 16, 2025 while offering higher-yield 360 Performance Savings accounts.
  • Customers do not need to file a claim and must select their payment option online by October 2 using the ID and PIN on their settlement notices.
  • Payouts will reflect the interest customers would have earned at 360 Performance Savings rates, with closed or converted accounts receiving about 15% larger cash payments.
  • A $125 million portion of the settlement is earmarked for additional interest, and Capital One must maintain the 360 Savings rate at least twice the FDIC national average until those funds run out.
  • The agreement requires final court approval at a hearing on November 6, 2025, and Capital One has not admitted any wrongdoing.