US EditionNY Attorney General Sues Capital One for Cheating Customers on 'High Interest' Savings
- On Wednesday, New York’s top legal official filed a lawsuit in Manhattan federal court accusing Capital One of deceiving customers with its 360 Savings accounts.
- The suit alleges Capital One misled customers by freezing 360 Savings rates at 0.3% while promoting a higher-rate 360 Performance Savings account launched in 2019.
- The complaint claims Capital One instructed employees to withhold information about the higher-yield product unless customers explicitly asked, causing customers to miss out on millions in interest.
- James accused Capital One of promising attractive returns without conditions, only to abruptly change terms to the disadvantage of customers, and is pursuing compensation and damages on their behalf.
- Capital One rejects the allegations, affirming it will strongly defend itself and insists that all customers have been able to access its range of 360 banking offerings.
15 Articles
15 Articles
NY Attorney General Sues Capital One for Cheating Customers on 'High Interest' Savings
NEW YORK – New York Attorney General Letitia James filed a federal lawsuit Wednesday accusing Capital One of defrauding customers out of millions in interest by quietly freezing rates on its so-called “high interest” 360 Savings accounts. The bank allegedly promised some of the “nation’s best savings rates,” but kept longtime depositors stuck at just […]
‘Apologize!’: Letitia James Heckled at Town Hall Amid Mortgage Fraud Investigation
New York Attorney General Letitia James faced vocal backlash during a recent town hall meeting in Westchester, where a heckler demanded she “apologize” for alleged misuse of state resources. The disruption comes amid growing scrutiny over James’s legal troubles triggered by the Trump administration, including a federal investigation into mortgage fraud involving properties in Brooklyn and Virginia. James has gained national attention in recent y…
Capital One Bait-and-Switch Tactics Cost Customers Millions, N.Y. AG Alleges
Capital One cheated its online savings account customers out of millions of dollars in interest payments, New York Attorney General Letitia James claims in a new lawsuit. The lawsuit alleges Capital One N.A. and Capital One Financial Corporation marketed “360 Savings” accounts as “high interest” with “one of the nation’s best savings rates” and said customer would earn more than with an average savings account. But James alleges that Capital One…
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