The Consumer Financial Protection Bureau (CFPB) is suing Capital One, alleging the bank illegally misled customers by not notifying them of account options that paid higher interest rates.The federal government's consumer watchdog claims Capital One's practices meant millions of customers missed out on a collective $2 billion they could have made in interest payments.

The Consumer Financial Protection Bureau announced it was suing Capital One for "cheating" customers out of more than $2 billion in interest.

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

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 Consumer Financial Protection Bureau accused the bank of “cheating” customers out of more than $2 billion by misleading them about interest rates.

Capital One had a major service outage last week that left many without access to their accounts. Now, it also faces a lawsuit from CFPB.

A power outage and hardware failure at fintech FIS last week delayed deposits and payments at 27 banks, including Capital One.

The Consumer Financial Protection Bureau, or CFPB, is a government agency that oversees the consumer finance industry, including banks, lenders and other financial institutions.

The Consumer Financial Protection Bureau is suing Capital One, which it says kept customers in the dark about higher-yielding savings accounts.

Third-party vendor FIS blamed a local power loss and hardware failure for the issue, which Bank of Oklahoma said affected more than two dozen financial institutions.

The Consumer Financial Protection Bureau announced Tuesday that it was suing Capital One for misleading consumers about their savings account interest rates and “cheating” them out of more ...

Capital One Financial Corporation (NYSE:COF) has been making waves in the financial services industry with its recent strategic moves, most notably the planned acquisition of Discover Financial Services (NYSE:DFS) announced in February 2024.