Capital One 360 Savings Accounts
Allegations: Misleadingly advertising accounts as “high interest” savings accounts without notifying accountholders that a higher interest rate account became available
Fitzpatrick et al. v. Capital One Financial Corp.
22-cv-312, E.D. Cal.
(Feb. 2022)
Capital One Credit Cards
Misleadingly representing that it would help credit card customers during the COVID-19 pandemic by deferring payments, waiving fees, and not charging interest on unpaid balances when the company systematically denied customers’ requests for help
Pending
Allegations: Misleadingly advertising accounts as “high interest” savings accounts without notifying accountholders that a higher interest rate account became available
Allegations: Misrepresenting that it protects consumers’ personal information when it failed to do so and there was a data breach between 2022 and 2023
Allegations: Representing that the credit card company charges Cash Advance Fees on cash loans or cash equivalents
Allegations: Falsely promising not to charge fees for using in-network ATMs
Allegations: Falsely advertising that consumers can get pre-approved for credit cards in a process that does not affect their credit score when the company runs a type of credit report…
Allegations: Marketing Zelle money transfers as fast, safe, and secure without disclosing that there is no protection for victims of fraud and no recourse for reimbursement of lost funds
Some class-action settlements that left consumers out in the cold.
When it comes to credit cards offering unlimited cash back, it’s a numbers game.