April 23, 2026, 11:21 a.m. ET
Some Capital One account holders may be eligible for a cash payment as part of a $425 million settlement in a class action lawsuit against the company.
A U.S. District Court judge issued final approval of the settlement on April 20, months after the court rejected the first settlement agreement in the case in late 2025. It was renegotiated earlier this year before receiving final approval this week.
The lawsuit alleged that Capital One deceived customers about interest rates related to some of its savings account options, according to court filings on the settlement website.
Capital One has denied the claims in the lawsuit and any allegations of wrongdoing. Both sides ultimately agreed to a settlement to avoid going to trial.
Here’s what to know about the settlement, including who’s eligible for payment.
What is the Capital One settlement about?
The class action lawsuit against Capital One relates to two types of savings accounts the company has offered: 360 Savings and 360 Performance Savings accounts.
The plaintiffs alleged that the two types of savings accounts are identical, except for the interest rate Capital One paid on them.
According to the filings, Capital One offered the 360 Savings accounts from 2013 to 2019, which is when it began offering 360 Performance Savings, a separate type of account.
Though the company stopped offering 360 Savings accounts to customers, Capital One continued to service the existing accounts under the program, the filings said.
The lawsuit alleged that since 2019, Capital One has paid a higher interest rate on 360 Performance Savings than it paid on 360 Savings, despite the two accounts being otherwise identical.
As a result, the plaintiffs alleged that Capital One deceptively marketed the 360 Savings account and concealed interest rate disparities. The company denied the claims.
Who’s eligible for payment in the Capital One settlement?
The settlement class, or the group eligible for payment, includes anyone who maintained a Capital One 360 Savings account at any point between Sept. 18, 2019, and June 16, 2025.
How much money can you get from Capital One settlement?
Each member of the settlement class will receive an individualized payment.
The total will first be calculated based on the amount of interest the account holder would have earned if the account were receiving the same interest rate as a 360 Performance Savings account.
The remaining settlement fund after deducting those costs and expenses will then be split among recipients based on their individual amounts, according to the settlement website.
Do you have to file a claim in the Capital One settlement?
No, you don’t need to file a claim to receive a payment in the Capital One settlement. All eligible members will receive their payment automatically.
Payments are expected to be sent around July 21, according to the settlement website.
Melina Khan is a national trending reporter for USA TODAY. Keep up with her on X @melinakh and Instagram @bymelinakhan.
