Capital One $425M settlement approved: Here's who qualifies for payments
A man walks in front of the Capital One building on April 20, 2026 in New York City. (Photo by Zamek/VIEWpress)
A judge has signed off on a $425 million settlement in a lawsuit that accused Capital One of paying lower interest rates on older savings accounts and failing to let customers know there was a new high-yield option.
The settlement automatically includes any customers who had a Capital One 360 Savings account during a certain time period. Here’s what to know:
Capital One settlement
What we know:
According to the settlement website, the lawsuit accused Capital One of failing to raise interest rates on their 360 Savings accounts at the same rates it paid on the 360 Performance Savings account. The major U.S. bank is also accused of concealing from customers that 360 Savings accounts were no longer Capital One’s high-yield online savings accounts, and also failing to tell customers about the 360 Performance Savings accounts with higher interest rates.
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Who Qualifies:
Capital One customers who had a Capital One 360 Savings account at any time from September 18, 2019, through June 16, 2025, including joint and co-holders of 360 Savings accounts, qualify for the settlement.
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What we don't know:
It’s unclear how many people are in the settlement class, and how much each person will get. The amount depends on how long you had the 360 Savings account, and how much interest you would have earned if you were given the same interest rate as the 360 Performance Savings accounts.
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What you can do:
If you qualify for the settlement, you will be paid automatically without having to file a claim – unless you exclude yourself from the settlement.
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Customers who qualify did have the option to opt for an electronic payment instead of a paper check, but the deadline for that was March 30. Checks won’t be sent out if the amount is less than $5. Customers who are owed less than $5 had to sign up for electronic payment before the deadline.
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Timeline:
If there is no appeal, payments will be issued on or about July 21, 2026.
The Source: This report includes information from the Capital One 360 Savings Account Interest Rate Litigation website.