Federal regulators said in a lawsuit on Tuesday that the giant bank deliberately underpaid savings account interest, even as rates rose.

The CFPB is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts.

A new lawsuit alleging that Capital One cheated savers out of larger yields is a wake-up call for people who want to wise up and get the most out of their deposits, experts say.

If you had a savings account at Capital One between 2019 and mid-2024, you may have been misled into accepting a lower return on your deposits than the marketing suggested, according to a lawsuit filed Tuesday by the government's consumer watchdog agency.

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

The agency accused Capital One of obscuring a new, higher-paying savings product from some legacy savings account holders. The bank said it is “disappointed” with the bureau’s “eleventh hour lawsuits.

The government’s consumer watchdog sued Capital One on Tuesday for “cheating” customers out of billions in interest payments. The Consumer Financial Protection Bureau (CFPB) accused the banking

The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.

In January 2025 so far, the benchmark NSE Nifty 50 index has tanked over 2.7%; keeping in trend with the one-month performance of the stock market before the budget in the last five years

Banks have reported slower loan growth amid strong earnings, Tesla to raise Canadian car prices, and more news to start your day.

A strong holiday season against the backdrop of a falling rate environment helped AmEx sustain spending volumes. AmEx, which mostly caters to wealthy consumers, has been able to better navigate economic uncertainty compared to some of its peers,

Economists and analysts aren’t convinced that an expansion of oil and gas production will lower consumer prices.