CFPB Sues Capital One, Alleging Misleading Promotion of ‘Highest' Rates
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The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, accusing the bank of misleadingly promoting a savings account as offering one of the nation's 'highest' interest rates, while another account offered rates up to 14 times higher.
January 14, 2025 | 5:00 pm
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Capital One is facing a lawsuit from the CFPB for allegedly misleading customers about interest rates on savings accounts. This legal action could impact the company's reputation and financial performance.
The lawsuit from the CFPB could lead to financial penalties and damage to Capital One's reputation, potentially affecting customer trust and future earnings. Legal issues often result in negative short-term stock price movements.
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