Marina
In October 2025, the Capital One settlement process has reached its conclusion. All payments have been processed, claim windows are closed, and only limited non‑monetary protections remain accessible to class members.
Case Background & Settlement Overview
Capital One faced a class action lawsuit alleging that its 360 Savings accounts were unfairly disadvantaged relative to its newer 360 Performance Savings accounts. Between September 18, 2019, and June 16, 2025, the bank allegedly froze interest on older accounts (as low as 0.3 %), while offering higher rates (up to ~4.35 %) on new accounts.
To resolve the dispute, Capital One agreed to a $425 million class action settlement with the following structure:
- $300 million to compensate for the interest depositors “lost out on.”
- $125 million reserved for additional interest payments to those who continue holding qualifying 360 Savings accounts after the claims deadline.
The settlement does not admit wrongdoing by Capital One.
Timeline & Closure Status
| Milestone | Date / Status |
|---|---|
| Preliminary approval & Agreement filed | May 16, 2025 |
| Deadline to select payment method / elect closure | October 2, 2025 |
| Final approval hearing | November 6, 2025 |
| Payment distribution begins | After court approval (expected within ~60 days) |
| Settlement fully closed / payment reissue stopped | “All payment activities to Claimants … completed; no further reissue requests accepted” (for prior data breach settlement) |
As of October 2025, the settlement window is closed, and no further monetary claims or reissues are accepted.
Who Was Eligible & What You Needed to Do
You qualified as a Settlement Class Member if you held a Capital One 360 Savings account (not 360 Performance) at any point between Sept 18, 2019 and June 16, 2025.
You did not need to file a claim form — payments were automatic for those who did not opt out.
However, by October 2, 2025, you had to:
- Select or confirm payment method (electronic payment preferred) or
- Close (or convert) your 360 Savings account by that date to get a ~15% larger lump-sum payment instead of future interest payments.
- Opt out or object (if you wished to exclude yourself) by postmarking an exclusion request by Oct 2.
If you missed that window or did not confirm payment info, you lost your opportunity for monetary recovery.
How Much Did People Receive?
Payouts were determined pro rata based on how much additional interest an account holder would have earned had their 360 Savings account matched the higher rates of the 360 Performance Savings product over the eligible period.
Those who closed or converted their account by Oct 2 got a ~15% bonus on the lump-sum payment.
Those keeping their account open instead received a smaller payment now, plus additional interest drawn from the $125 million reserve.
Because of differences in balances, durations, and claimant counts, many payments are in the low to moderate range. Some critics argue customers may receive only dozens of dollars while losing out on much higher missed earnings.
What About the Older Data Breach Settlement?
Separately, Capital One’s 2019 data breach settlement (≈ $190 million) had already been closed:
- Claims submission deadline was September 30, 2022.
- Payments were issued in waves starting Sept 28, 2023, and a second batch on Sept 4, 2024.
- As of now, that settlement is fully closed, and uncashed checks are void.
- Identity defense & restoration services remain available until February 13, 2028 for class members.
So that earlier settlement is not relevant for further claims in 2025.
- The $425 million Capital One settlement for 360 Savings account holders is now closed as of October 2025.
- If you qualified and confirmed payment method timely, your settlement should be distributed shortly after court approval (post-November 2025).
- Missing the October 2 deadline means forfeiting monetary compensation.
- The older 2019 data breach settlement ($190M) is also closed; only non‑monetary protections remain.
- Although payouts may be modest, this case underscores the importance of transparency and vigilance in banking interest practices.
If you believe you were eligible but missed the window, check any communications you received and see if you might benefit from any remaining nonmonetary services.
FAQs
Do I still have any chance to receive money from the Capital One settlement in October 2025?
No. The monetary window is closed. You needed to have selected payment or closed your account by October 2, 2025. Missing that, you’ve forfeited your right to the payout.