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Capital One to pay $425 million settlement: Who qualifies and when to expect a check

Nbcwashington · · 410 words · By NBC New York Staff
Consumer Protection Corporate accountability Legal Settlement
open_in_new Read the original article: https://www.nbcwashington.com/news/national-international/are-you-eligible-for-c…

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Loaded Language 80% confidence
Using words with strong emotional connotations to influence an audience.

fact_checkFact-Check Results

12 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 5
info Single Source 2
help Insufficient Evidence 2
schedule Pending 2
cancel Disputed 1
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“A federal judge approved a $425 million settlement from Capital One for a class action lawsuit over interest rates on its savings accounts.”
CORROBORATED
Multiple independent web search results confirm that a federal judge approved a $425 million class action settlement regarding Capital One 360 Savings account interest rates.
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wikipedia NEUTRAL — Capital One Financial Corporation is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom. One of the largest banks …
https://en.wikipedia.org/wiki/Capital_One
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wikipedia NEUTRAL — Capital One Arena is an indoor arena in Washington, D.C. Located in the Chinatown section of the larger Penn Quarter neighborhood, the arena sits atop the Gallery Place rapid transit station of the Wa…
https://en.wikipedia.org/wiki/Capital_One_Arena
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wikipedia NEUTRAL — Capital One Park is a baseball stadium located in Tysons, Virginia, on the campus of the headquarters of Capital One. The stadium has a seating capacity of 650 and features a synthetic turf field with…
https://en.wikipedia.org/wiki/Capital_One_Park
+ 3 more evidence sources
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“The approval was granted on April 20.”
CORROBORATED
Multiple sources explicitly state that final approval was granted on April 20 (specifically April 20, 2026).
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wikipedia NEUTRAL — Capital One Tower is a high-rise office building in Capital One Center, a mixed-use development adjacent to the McLean station in Tysons, Virginia. Capital One Tower is the tallest occupied building i…
https://en.wikipedia.org/wiki/Capital_One_Tower_(Virginia)
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wikipedia NEUTRAL — Capital One Financial Corporation is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom. One of the largest banks …
https://en.wikipedia.org/wiki/Capital_One
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wikipedia NEUTRAL — Capital One Arena is an indoor arena in Washington, D.C. Located in the Chinatown section of the larger Penn Quarter neighborhood, the arena sits atop the Gallery Place rapid transit station of the Wa…
https://en.wikipedia.org/wiki/Capital_One_Arena
+ 3 more evidence sources
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“If there is no appeal, settlement payments are set to go out around July 27, 2026.”
DISPUTED
There is a conflict between sources regarding the payment date: one source specifies July 27, 2026, while another specifies July 21, 2026.
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wikipedia NEUTRAL — Capital One Financial Corporation is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom. One of the largest banks …
https://en.wikipedia.org/wiki/Capital_One
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wikipedia NEUTRAL — Capital One Arena is an indoor arena in Washington, D.C. Located in the Chinatown section of the larger Penn Quarter neighborhood, the arena sits atop the Gallery Place rapid transit station of the Wa…
https://en.wikipedia.org/wiki/Capital_One_Arena
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wikipedia NEUTRAL — Capital One Hall is a performing arts center, music hall, and corporate event facility in Tysons, Virginia. The venue offers a wide range of programming, while also serving as a corporate event center…
https://en.wikipedia.org/wiki/Capital_One_Hall
+ 3 more evidence sources
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“The $425 million settlement involves the bank's popular 360 Savings accounts, which a lawsuit alleges was "deceptively marketed," "cheating" millions of customers out of more than $2 billion in interest.”
CORROBORATED
Multiple sources confirm the lawsuit alleged that 360 Savings accounts were 'deceptively marketed' and cheated customers out of interest.
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wikipedia NEUTRAL — Neo Financial is a Canadian financial technology company headquartered in Calgary. Neo develops consumer banking products in partnership with regulated financial institutions and provides co-branded c…
https://en.wikipedia.org/wiki/Neo_Financial
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wikipedia NEUTRAL — Capital One Financial Corporation is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom. One of the largest banks …
https://en.wikipedia.org/wiki/Capital_One
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wikipedia NEUTRAL — The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried goods between cities. This was around 2000 BCE…
https://en.wikipedia.org/wiki/History_of_banking
+ 3 more evidence sources
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“The Consumer Financial Protection Bureau accused Capital One of failing to raise interest rates on its 360 Savings account, instead freezing interest rates at a "low level while rates rose nationwide."”
CORROBORATED
Multiple sources confirm the CFPB accused Capital One of freezing interest rates on 360 Savings accounts while national rates rose.
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wikipedia NEUTRAL — Capital One Financial Corporation is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom. One of the largest banks …
https://en.wikipedia.org/wiki/Capital_One
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wikipedia NEUTRAL — A credit score is a number that provides a comparative estimate of an individual's creditworthiness based on an analysis of their credit report. It is an inexpensive and main alternative to other form…
https://en.wikipedia.org/wiki/Credit_score_in_the_United_Sta…
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wikipedia NEUTRAL — Wells Fargo & Company is an American multinational financial services company. The company operates in 35 countries and serves more than 70 million customers worldwide. It is a systemically important …
https://en.wikipedia.org/wiki/Wells_Fargo
+ 3 more evidence sources
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“Capital One created a virtually identical product, '360 Performance Savings,' that differed from 360 Savings only in that it paid out substantially more in interest — at one point more than 14 times the 360 Savings rate”
SINGLE SOURCE
One specific search result mentions that the 360 Performance Savings account paid more than 14 times the 360 Savings rate at one point, but this specific multiplier is not corroborated by other independent sources provided.
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web search NEUTRAL — At one point last summer, the 360 Performance Savings account paid more than 14 times the 360 Savings rate, according to the complaint.The 360 Savings account, however, offered a 0.30% rate between De…
https://qz.com/capital-one-cfpb-lawsuit-high-interest-saving…
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web search NEUTRAL — Unlike tiered savings accounts, Capital One's 360 Performance Savings account offers the same high-yield savings rate on your entire balance, so you earn the same great rate whether you’re just starti…
https://www.capitalone.com/bank/savings-accounts/online-perf…
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web search NEUTRAL — Capital One marketed its 360 Savings accounts as “high interest” accounts with “one of the nation’s best savings rates” that would earn customers more than an average savings account.
https://allaboutlawyer.com/capital-one-360-savings-425000000…
info
“Capital One denied the allegations in the lawsuit, but agreed to settle.”
SINGLE SOURCE
While one source mentions that Capital One neither admitted nor denied allegations in a different settlement (Social Media Lawsuit), the evidence provided does not explicitly confirm the 'deny but settle' stance for the 360 Savings lawsuit specifically, although it is standard for such settlements.
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web search NEUTRAL — class action lawsuit by customers on anti-trust concerns.[95] The acquisition was completed in May 2025.[96][95][97][98].Lawsuits were filed against Capital One and its employees in federal and circui…
https://en.wikipedia.org/wiki/Capital_One
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web search NEUTRAL — Capital One, meanwhile, agreed to pay $190 million to settle a class-action lawsuit related to the 2019 data breach that exposed the personal information of 106 million customers in the U.S. and Canad…
https://www.bankingdive.com/news/morgan-stanley-capital-ones…
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web search NEUTRAL — Capital One agreed to pay $4M to settle a social media creator lawsuit. See who qualifies, payout amounts, and the April 2026 claim deadline.Capital One neither admitted nor denied any of the allegati…
https://lawhighlights.com/capital-one-settles-social-media-l…
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“Anyone who had a 360 Savings account between Sept. 18, 2019 and June 16, 2025 was eligible for the lawsuit.”
CORROBORATED
Three independent sources confirm the eligibility period as September 18, 2019, through June 16, 2025.
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web search NEUTRAL — The settlement class, or the group eligible for payment, includes anyone who maintained a Capital One 360 Savings account at any point between Sept. 18, 2019, and June 16, 2025.
https://www.usatoday.com/story/money/2026/04/23/capital-one-…
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web search NEUTRAL — For purposes of settlement only, the Court has preliminarily certied a Settlement Class, which includes persons or entities that maintained a Capital One 360 Savings account at any time from September…
https://www.capitalone360savingsaccountlitigation.com/Home/F…
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web search NEUTRAL — Who Qualifies? You may be included if you maintained a Capital One 360 Savings account at any time during the class period: • Class period: September 18, 2019 through June 16, 2025. • Includes current…
https://openclassactions.com/settlements/capital-one-360-sav…
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“those who wished to be excluded were required to do so by an Oct. 2, 2025 deadline.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding an October 2, 2025, opt-out deadline.
help
“Customers who only had a 360 Performance Savings account are not eligible.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results explicitly stating that customers who only had a 360 Performance Savings account are ineligible.
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“Your payment will be based on how much extra interest you would have earned — the difference between what your 360 Savings account actually paid and what the 360 Performance Savings account was paying during that period.”
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“From that $425 million pool, lawyers’ fees of up to 15% will come out first, along with administrative costs.”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.