NYSE:COFConsumer Finance
Does Capital One’s US$425 Million Savings Settlement Reshape Customer Trust And Returns Narrative For COF?
A federal judge has approved a US$425 million class action settlement against Capital One, resolving past claims that it paid lower interest rates on legacy savings accounts than on a nearly identical 360 Performance Savings product, with reimbursements to eligible customers and rate equalization now required.
The revised settlement directs the entire US$425 million toward compensating customers for lost interest, after an earlier proposal was rejected for not providing sufficient...