All articles tagged with #capital one
A federal judge approved a $425 million settlement in a class-action lawsuit accusing Capital One of steering customers away from higher-interest savings accounts, covering Capital One 360 Savings Account holders from September 2019 to June 2025; eligible customers could receive payouts after a prior settlement was rejected.
Capital One is distributing about $425 million to current and former customers who held a Capital One 360 Savings account at any time from Sept. 18, 2019, to June 16, 2025. Payments will be issued automatically (no action required) and vary based on how long you held the account and the balance. To check eligibility, sign in to Capital One’s app or website, select the account, then view details or statements; accounts opened after June 16, 2025 are ineligible. The settlement stemmed from claims that the two accounts — 360 Savings and 360 Performance Savings — had similar names but different rates, and customers weren’t clearly told which they held.
Capital One has agreed to a $425 million settlement to resolve claims related to the 2019 data breach that exposed customers’ personal information. The settlement provides compensation to affected customers and may include access to credit monitoring and other protections. Eligibility generally covers Capital One customers whose data were compromised in the breach. To claim, go to the official settlement administrator’s site, file a claim, verify your identity and breach details, and submit by the deadline to receive cash relief and/or other benefits.
A judge approved a $425 million settlement in a Capital One case over interest-rate practices between two savings accounts. Eligible customers who held a 360 Savings account at any time from Sept. 18, 2019, to June 16, 2025, will receive cash without filing a claim; payments depend on how much extra interest they would have earned if their account had paid the higher 360 Performance Savings rate. The total fund is first reduced to cover legal and administrative costs, with the remainder distributed among eligible account holders. Payments are expected around July 21; electronic payments were optional (chosen before March 30). If the payout exceeds $5 and the customer did not elect electronic payment, they’ll receive a check; amounts under $5 go only to electronic-payees. Capital One denies wrongdoing.
Capital One announced a $5.15 billion acquisition of Brex, paying half in cash and half in stock to accelerate its payments and spend-management platform; the move follows its 2023 acquisition of Discover Financial, and shares dipped a few percent on the news.
Capital One is offering a $425 million settlement for customers misled about the interest rates on its 360 Savings Account, with a claim deadline of October 2, 2025, for those who held accounts between September 2019 and June 2025.
A group of 18 U.S. states is urging a federal judge to reject Capital One's $425 million settlement with depositors, arguing it allows the bank to continue short-changing customers by saving over $2.5 billion and providing minimal compensation for interest lost due to rate freezes on high-interest savings accounts.
Capital One has agreed to pay $425 million to settle a lawsuit claiming it failed to raise interest rates on its 360 Savings accounts despite raising rates on other accounts, benefiting account holders from September 2019 to June 2025. The settlement includes cash payments and additional interest payments for eligible account holders, with a claim deadline of October 2, 2025, and a final hearing scheduled for November 6, 2025.
Jefferies has updated its 'Franchise Picks' list, emphasizing Nvidia's dominance with next-gen chips, and highlighting other top stocks like Capital One Financial, Expand Energy, and Huntington Bancshares, each benefiting from sector-specific tailwinds such as AI, energy, and regional banking growth.
Capital One is removing free airport lounge access for Venture X cardholders starting February 2024, replacing it with steep fees unless they spend $75,000 annually, sparking customer outrage over the loss of a valued perk.
Capital One has launched its first Capital One Landing at Washington National Airport (DCA), a new airport concept blending a lounge and restaurant experience. Partnering with Chef José Andrés, the space offers a Spanish tapas menu and is free for Capital One Venture X cardholders. Located in Terminal 2, it features a main dining area and an 'On the Fly' section for takeaway purchases. The Landing aims to provide a quick, quality dining experience for travelers, with reservations and digital waitlisting available to manage demand.
Capital One is launching its new airport lounge concept, Capital One Landing, at Washington D.C.'s Ronald Reagan National Airport (DCA). The lounge, designed with input from renowned chef José Andrés, features a unique two-part setup: a traditional lounge with assigned seating and a grab-and-go coffee shop called On the Fly. Unlike other Capital One lounges, access is more restricted, and On the Fly is open to all travelers but not free. The lounge offers a tapas menu and craft cocktails, aiming to cater to travelers with short layovers.
Capital One has launched its first fine dining airport restaurant, Capital One Landing, at Washington's Reagan National Airport, offering complimentary access to Venture X cardholders. The restaurant, in partnership with chef José Andrés, provides a high-quality dining experience with tapas and a beverage program, aiming to redefine airport dining. Reservations can be made, and a digital waitlist is available to manage crowds. A grab 'n go market is also available, offering discounts to cardholders. The concept will expand to New York LaGuardia.
President-elect Donald Trump plans to use tariffs and tax cuts as his main economic tools in his second term, with broader tariffs and more targeted tax cuts expected to influence inflation, growth, and interest rates. Trump's return to the White House is also anticipated to support Capital One's $35 billion merger with Discover Financial Services, potentially creating the largest credit-card issuer in the U.S. The deal awaits regulatory approval and could face legal challenges. Additionally, local journalist Jim Engster will discuss recent elections at the Rotary Club of Baton Rouge.
Capital One has proposed a $265 billion community benefit plan to gain regulatory approval for its $35 billion merger with Discover Financial. The plan includes $200 billion in loans to low- and middle-income consumers, $44 billion in community development, and significant investments in nonprofits and minority-owned businesses. The merger would create the world's largest credit card company, but faces scrutiny from regulators and consumer groups concerned about competition and market exposure.