Capital 1 Discloses CFPB Probe on Savings Accounts

Capital One warns of potential CFPB enforcement action over its savings accounts
The probe comes as the company is awaiting regulatory approvals for its $35.3 billion acquisition of Discover Financial Services.
Capital One discloses CFPB investigation tied to savings account lawsuit
A lawsuit brought by Capital One savings account customers in July 2023 has now attracted the attention of the Consumer Financial Protection Bureau.
Capital One warns of possible CFPB enforcement action
The bureau notified the lender last month it’s considering action after customers sued Capital One, claiming it never told savings account holders they could get a higher yield if they switched to another product.
Capital One Faces Potential CFPB Action Over Alleged Savings Account Misrepresentations
Capital One disclosed it may face enforcement action from the Consumer Financial Protection Bureau over alleged misrepresentations concerning its savings accounts. The inquiry follows a customer lawsuit
Capital One Discloses CFPB Probe on Savings Accounts
The Consumer Financial Protection Bureau is probing Capital One's high-yield savings accounts, the bank said in a securities filing Thursday. The Journal reported earlier this year that the bank paid
CFPB considers enforcement action against Capital One
The regulatory scrutiny involves online savings accounts that allegedly deceived consumers into believing they were receiving high rates.
Capital One discloses NORA letter from CFPB over possible enforcement action
According to a regulatory filing, in August 2024, Capital One (COF) received a Civil Investigative Demand from the Consumer Financial
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Capital One says it could face a federal enforcement action
Capital One has disclosed that a federal agency – the Consumer Financial Protection Bureau (CFPB) – could launch an ...
Capital One warns of potential enforcement action over savings accounts
The company is responding to a letter the Consumer Financial Protection Bureau (CFPB) sent it earlier this month. The ...