The Consumer Financial Protection Bureau sues financial firm for keeping customers in the dark about a higher-yielding savings accounts

The Consumer Financial Protection Bureau announced Tuesday that it was suing Capital One for misleading consumers about their savings account interest rates and “cheating” them out of more than $2 billion in interest.

Federal regulators said in a lawsuit on Tuesday that the giant bank deliberately underpaid savings account interest, even as rates rose.

Capital One has been sued by the Consumer Financial Protection Bureau (CFPB) for allegedly "cheating" millions of customers out of more than $2 billion of

The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.

Capital One is probably best known for its pithy commercials featuring Jennifer Garner asking, "What's in your wallet."  Unfortunately, the Consumer Financial

The Consumer Financial Protection Bureau is suing Capital One for "cheating families out of billions of dollars on their savings accounts.”

The government’s consumer watchdog on Tuesday sued Capital One for alleging “cheating” customers out of billions in interest payments. The Consumer Financial Protection Bureau (CFPB) accused the banking giant of freezing interest rates for its 360 Savings account at low levels as rates rose,