The deadline to claim part of the $425 million settlement that Capital One is doing today is Thursday, October 2. The bank is settling a class action lawsuit brought against its holding company by customers in 2024 for freezing its savings accounts interest rates for several years.

As a result of the freeze, customers of Capital One lost billions in interest rate payments, which they now have a chance to claim. However, the settlement awaits court approval, which is set to hear the case on November 6.

The CFPB, which dropped its lawsuit in February, had alleged that Capital One marketed its 360 Savings account as "high interest" with a variable rate that was "one of the nation’s best," telling them that they would earn significantly more money than others.

Attorney General Letitia J

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