Capital One $425M Class Action Settlement 2025: Who’s Eligible, How Much You Could Get, and What to Do Before the Deadline
A major settlement tied to Capital One’s handling of its 360 Savings product is moving toward final approval in 2025. The agreement sets aside $425 million for consumers, combining direct cash payouts with boosted interest for those who keep accounts open. If you held a 360 Savings account during the covered period, you’re likely included automatically—no traditional claim form required.
What Sparked the Case
The case stems from the bank’s treatment of 360 Savings versus 360 Performance Savings. While national rates climbed, customers in 360 Savings were allegedly kept on comparatively low rates—at times up to 14× lower than those offered on 360 Performance Savings. Consumers and the CFPB argued this left customers short by more than $2 billion in potential interest, prompting a class action to compensate those affected.
Who Is Covered and How Inclusion Works
You are in the class if you held a 360 Savings account between September 18, 2019, and June 16, 2025. Enrollment is automatic—you don’t need to submit a claim. However, you should select how you want to be paid (direct deposit or check) and consider whether to stay in or opt out.
Quick Eligibility Snapshot
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Account type: 360 Savings (not 360 Performance Savings)
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Time window: Sept 18, 2019 – June 16, 2025
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Enrollment: Automatic (no claim form)
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Opt-out: Allowed, but you must do it by the deadline and you won’t receive a settlement payment
The Money: Funds, Payout Logic, and Closed-Account Bonus
The settlement has two parts. How much you receive depends largely on your balance history and how much more you would have earned at the 360 Performance Savings rate.
| Portion | Amount | What It Covers |
|---|---|---|
| Cash Settlement Fund | $300,000,000 | One-time cash payments for eligible account holders |
| Increased Interest Fund | $125,000,000 | Higher interest for customers who keep their 360 Savings accounts open |
| Total Settlement | $425,000,000 | Combined consumer relief |
Closed-account incentive: Customers who already closed their 360 Savings—or who close it by October 2, 2025—are slated for a one-time cash payment approximately 15% higher than if they left the account open.
Key Dates You Shouldn’t Miss
| Date | What Happens |
|---|---|
| October 2, 2025 | Final day to update payment preference (direct deposit or check) and to opt out if you plan to pursue your own case |
| November 6, 2025 | Court hearing on final approval of the settlement |
Payments are expected to be made in a lump sum after the court grants final approval and administrative steps are completed.
How Payouts Are Estimated
Payments reflect the difference between what your 360 Savings earned and what you would have earned in a higher-yield 360 Performance Savings during the class period. In general:
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Larger historical balances → larger payment
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Keeping the account open → directs value to the Increased Interest Fund
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Closing by Oct 2 → routes you to a larger one-time cash payout (~15% higher)
Step-by-Step: Your Next Moves
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Confirm you’re eligible (held a 360 Savings account in the covered window).
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Decide open vs. closed (open accounts get enhanced interest; closed accounts may get ~15% more in a single payment).
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Choose your payment method (direct deposit or check) by Oct 2, 2025.
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Consider opt-out only if you intend to file your own lawsuit—doing so means no settlement payment.
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Keep an eye on updates leading into the Nov 6, 2025 approval hearing.
Objections from State Attorneys General
Not everyone is satisfied with the deal. A coalition led by New York Attorney General Letitia James urged the court to reject the agreement, arguing it doesn’t fully account for customer harm and could favor the bank. The judge will weigh these objections during the November 6, 2025 hearing.
Fast Answers (FAQs)
Who is eligible?
Anyone who held a 360 Savings account from Sept 18, 2019, to June 16, 2025.
Do I need to file a claim?
No. Automatic inclusion applies, but you must set your payment preference by Oct 2, 2025.
How will I get paid—and when?
After final approval, payment should be one-time, lump sum, via direct deposit or check (your choice).
What if my account is closed?
You’re still eligible and may receive a ~15% higher lump-sum payment if closed by Oct 2, 2025.
Can I opt out?
Yes, by Oct 2, 2025—but opting out means no payment from this settlement, as you’d pursue your own case.
Emegypt will continue to monitor court developments and timelines related to the Capital One $425M Class Action Settlement 2025 so affected customers know exactly what to expect next.
