Capital One Settles 360 Savings Account Case

0:00Capital One just got the green light on a revised settlement for their 360 savings account holders after the judge shot down the first one last. November. The deal is still $425 million, but now every penny goes straight to customer payouts instead of splitting it with rate. Boosts. Plus, they'll match the higher 360 performance savings rate on those legacy accounts for at least two full years, pushing the total value over $1.2 billion. Eligible folks could see checks as early as July 21st. Earlier this week, on April 20th, Judge David Novak approved it in Virginia Federal Court. The original plan got rejected because it only covered less than 10% of the lost interest, and Capital One kept quiet about customers, switching to better rates. Attorneys general from 18 states pushed back hard, even sparking a lawsuit from New York's top AG. This hits anyone who held a 360 savings account from September 18th, 2019, through June 16th, 2025, current owners.

1:04X holders even join accounts qualify, but not pure, performance savings users. No claim forms needed. The bank sends automatic checks to the primary holder, based on your interest, shortfall. Payouts calculate per day, you held the account, mail to your last address unless you opted for electronic before late March, and only if over $5. Current holders get the rate bump right away, giving a solid two-year window to earn more without hassle. Keep your contact info fresh with Capital One to avoid missing out, and note this, shows judges are cracking down on weak bank deals coordinated state. Pressure made the difference here, reshaping with savers actually pocket. Durham news today, powered by AI bringing you what matters. I'm Cory with the story.