IF you have a Capital One account, you may be in for a direct payment.
The banking giant has agreed to a $425 million settlement.
Eligible recipients will receive direct payments.[/caption]
The payment comes after a lawsuit accused Capital One of failing to raise interest rates on its 360 Savings accounts despite raising rates on its 360 Performance Savings accounts.
It allegedly tried to keep this secret. And even though it admitted to no wrongdoing, the bank has agreed to the settlement.
So what do you have to do to get a cut of the money?
You simply needed to have maintained a Capital One 360 savings account between September 18, 2019, and June 16, 2025.
Based on the terms of the settlement, the payout will be equal to what class action members would have been paid had they received the interest rate bump equivalent to the one applicable to the 360 Performance Savings accounts.
Eligible class action members would receive an automatic direct payment. They would not need to file a claim form.
And class action members can update their payment method via the settlement website.
But these payments won’t apply to customers who have closed their accounts or choose to close them before October 2, 2025.
SETTLE THIS
Capital One isn’t the only bank that has agreed to sending direct payments as a result of class action settlements.
Truist Bank agreed to send $440 checks as part of a $4.1 million settlement.
The bank was accused of making prerecorded calls without the consent of consumers.
These calls were allegedly sent out to nearly 6,000 phone numbers.
And Huntington National Bank agreed to send out $600 cash bonuses across 10 states.
Other major companies have also reached multi-million dollar settlements recently.
Instagram is sending users $30 checks as part of a $68.5 million settlement.
23andMe settlement
CHIEFS at the genetics company 23andMe have agreed to pay out $30 million in relation to a privacy dispute. The U.S. Sun has broken down the terms of the settlement below:
- A total of $30 million will be paid out.
- The settlement impacts customers whose data was stolen in 2023.
- Hackers used a tactic known as “credential stuffing” to target unsuspecting customers.
- Customers that use the same passwords for different accounts were vulnerable.
- Claimants will be able to apply for payments up to $10,000.
- Residents in some states, including Alaska, California, Oregon, and Illinois, will be able to apply for cash in accordance with state privacy laws.
- It has not been announced when payments will be issued.
The social media behemoth was accused of unlawfully collecting user data in Illinois.
Walmart also recently reached a settlement and agreed to pay out $5.6 million.
The retailing giant was accused of selling items that weighed less than what was printed on pricing labels.
This led to inaccurate pricing for various products like baked goods, produce, and other prepared foods.
The settlement involved customers in California.
