Capital One 360 Savings Account – Class Action Investigation

Chimicles Schwartz Kriner & Donaldson-Smith is investigating a potential class action case on behalf of accountholders with Capital One 360 Savings accounts. These accounts were promoted as offering a 1.00 percent interest rate.

Beginning around September 2019, Capital One stopped offering their 360 Savings account to new customers and instead enticed new accountholders with a nearly identical offshoot boasting a 1.90 percent interest rate at the time of its launch. The existence of this new account iteration, the 360 Performance Savings account, was allegedly hidden from existing 360 Savings accountholders.

By May 2023, this higher yield offshoot climbed to an interest rate of 3.75 percent, while the original 360 savings account dropped to 0.30 percent. By withholding information regarding a higher-yield savings account to accountholders enrolled in the older 360 Savings Account, Capital One has allegedly breached its fiduciary duty to its customers by depriving them of substantial interest payments they otherwise would have accrued if enrolled in the newer Savings Performance plan.

If you were enrolled in a Capital One 360 Savings account, and had never signed-up or enrolled in a Performance Savings account,  please fill-out the form below with your details.