CFPB Lawsuit Accuses Capital One of Cheating Customers Out of $2 Billion in Interest Payments
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, alleging that the bank misled its customers about interest rates on savings accounts and cheated them out of over $2 billion in interest payments. The lawsuit claims that Capital One kept customers in lower-yield accounts while promoting higher interest rates, effectively deceiving millions of consumers. This legal action highlights the ongoing scrutiny of financial institutions and their practices regarding consumer savings and interest rate disclosures.
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