(Reuters) – Capital One (NYSE:) was sued on Tuesday by the U.S. Client Monetary Safety Bureau, which accused the financial institution of illegally avoiding the cost of greater than $2 billion in curiosity to shoppers who held its flagship “excessive curiosity” financial savings account.
In a criticism filed within the Alexandria, Virginia federal court docket, the CFPB mentioned Capital One promised account holders that their 360 Financial savings accounts supplied one of many nation’s greatest rates of interest, however then froze the speed at a low degree at the same time as rates of interest have been rising nationwide.
