A federal judge, David Novak, has approved a $425 million settlement for Capital One customers who were misled regarding their savings accounts. The lawsuit, which lasted nearly two years, highlighted that Capital One confused customers by offering two similar accounts: the 360 Savings and 360 Performance Savings. Many customers unwittingly remained in the lower-interest 360 Savings account, which had a significantly lower interest rate of 0.3%, compared to the 360 Performance Savings account, which peaked at 4.35%. Approximately three-fourths of affected customers are still in the lower-interest account. The settlement covers customers who held a 360 Savings account from September 18, 2019, to June 16, 2025. Payments will be distributed automatically to eligible customers based on account duration and balance, with payouts expected within the next one to two months. Additionally, Capital One is required to raise the interest rate on the 360 Savings account to match the higher rate of the 360 Performance Savings account.