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The CFPB claims that Capital One used two similarly named products, 360 Savings and 360 Performance Savings, to create a two-tier system where existing savings account customers were purposely ...
Simultaneously, Capital One introduced the “360 Performance Savings” account, which paid a substantially higher rate—at one point, more than 14 times the rate of 360 Savings. Don't Miss:
In January 2025, the Consumer Financial Protection Bureau accused Capital One of cheating savings account holders out of $2 billion, by "deceptive, abusive and illegal" practices which obscured the difference between the high-interest "360 Performance Savings" accounts vs. low-interest "360 Savings" accounts. [139]
Capital One increased the 360 Performance Savings interest rate from 0.4% in April 2022 to 4.35% in January 2024, while it lowered and then froze the 360 Savings rate at 0.3% between late 2019 and ...
In August, the 360 Performance Savings rate was more than 14 times higher than the Savings 360 rate, according to the CFPB. Capital One said it is “proud” of its 360 product offerings — and ...
According to disclosures on the Capital One's website, 360 Savings accounts currently carry an interest rate of just under 0.50%. 360 Performance Savings accounts have an interest rate of about 3. ...
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