Capital One 360 Savings Account Interest Rate Litigation
The financial causation theory in MDL-3111 centers on allegations that Capital One engaged in deceptive marketing and misrepresented interest rates for its 360 Savings accounts. Plaintiffs claim that Capital One failed to adequately disclose the existence of its higher-yield 360 Performance Savings account and did not increase interest rates on existing 360 Savings accounts in line with market trends. This conduct allegedly caused account holders to lose potential interest income, constituting financial harm. The legal arguments include breach of the implied covenant of good faith and fair dealing, as well as violations of consumer protection laws related to deceptive practices and misrepresentation.
1
Pending actions
8
Total actions filed
Active
Status
06/07/2024
Established
Filing deadline
The exclusion deadline for class members was October 2, 2025. The objection deadline was April 20, 2026. The settlement received final court approval on April 20, 2026. Payouts are expected around July 27, 2026. Specific statutes of limitations for filing individual claims prior to the MDL formation would have varied based on jurisdiction, but the class settlement encompasses eligible account holders within the specified timeframe.
Who qualifies
To be eligible for the settlement, individuals must have held a Capital One 360 Savings account at any point between September 18, 2019, and June 16, 2025. The settlement resolves allegations that Capital One engaged in deceptive marketing and misrepresented interest rates on these accounts, leading to financial harm for account holders.
Products involved
- Capital One 360 Savings Account
- Capital One 360 Performance Savings Account
Bellwether trials
The litigation has been resolved through a settlement. There is no publicly available information regarding a bellwether trial schedule or recent verdicts. The settlement received final court approval on April 20, 2026. Payouts to eligible class members are anticipated around July 27, 2026, pending any appeals.
Settlement landscape
A settlement totaling $425 million has been approved in MDL-3111. This settlement aims to compensate eligible class members who held Capital One 360 Savings accounts within the specified timeframe. Payouts are anticipated to commence around July 27, 2026. The exact amount each class member will receive depends on various factors, including the duration of their account holding and the specific interest rate discrepancies experienced.
Lead counsel
- Wolf Popper LLP
This page is generated from the official JPML pending-MDL report and public court records, refreshed monthly. It is provided for attorney reference and is not legal advice.
