The U.S. Consumer Financial Protection Bureau is suing Capital One, claiming the company cheated customers out of $2 billion by misleading them.

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 ...

The Consumer Financial Protection Bureau alleged the bank misled some of its customers by not paying them the rate it ...

In July, for example, the CFPB alleges, the Performance Savings rate was more than 14 times that of the original 360 Savings accounts. But Capital One kept existing customers in the original ...

The CFPB lawsuit, filed Tuesday in the U.S. District Court for the Eastern District of Virginia, comes some two months after the $486 billion-asset Capital One (NYSE: COF) disclosed that it had ...

Capital One, the ninth largest bank in the US, marketed its 360 Savings account as having one of the highest annual percentage yields, the CFPB said in a statement Tuesday. However, after ...

The CFPB sued Capital One this week, accusing it of "cheating" customers out of interest payments.

Capital One, the CFPB alleges, promised customers that its flagship 360 Savings account provided one of the nation’s “best” and “highest” interest rates, but the bank froze the interest rate at a low ...

CFPB says bank kept depositors in dark about higher rates Bank allegedly froze rate at 0.30%, other depositors got 4.35% Capital One disagrees with claims, says it was transparent Jan 14 (Reuters ...

But instead, the CFPB alleges, Capital One froze its rate at a low level for at least several years, even as rates rose nationally. At the same time, the CFPB adds, the bank created "360 Performance ...

However, the interest rates of the two options were substantially different, according to the CFPB. Capital One increased the ...

But instead, the CFPB alleges, Capital One froze its rate at a low level for at least several years, even as rates rose nationally. At the same time, the CFPB adds, the bank created "360 ...