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Case Updates

On January 21, 2024, the Wall Street Journal published an article covering the conduct alleged in Savett v. Capital One, N.A., in which Wolf Popper represents the Plaintiffs. The article is entitled “They Thought Their Money Was in High-Interest Accounts—They Got Paid Peanuts,” with the subtitle “Capital One says its savings account pays 4.35%, but not all customers are getting that.” According to the article, Capital One made a “little-noticed change” in 2019 when it “introduced a new savings account called 360 Performance Savings. Existing customers were kept in older accounts that had a similar name, 360 Savings, which the bank previously advertised as having ‘a great rate’ but has since closed to new customers. When the Fed started its rate increases, Capital One only raised rates on 360 Performance Savings accounts. . . . Those with the old accounts say they were never told about the existence of a new account that pays more.” As a result, dozens of affected consumers have complained that they lost out on competitive interest payments. 

The Savett v. Captal One, N.A. case aims to represent a nationwide class of all persons who have been Capital One 360 Savings accountholders since Capital One created the 360 Performance Savings account. For more information, please contact Philip Black at pblack@wolfpopper.com. 

• Phone: Chet Waldman – (212) 451-9624
• Phone: Philip Black – (212) 451-9628
• Phone: Timothy Brennan – (212) 451-9616
• Email: Outreach@wolfpopper.com