Court Grants Preliminary Approval Of Settlement In Capital One 360 Savings Interest Rate Litigation

On June 16, 2025, the Honorable David J. Novak of the United States District Court for the Eastern District of Virginia granted preliminary approval of the class action settlement in the In Re: Capital One 360 Savings Account Interest Rate Litigation. Pursuant to the settlement, Capital One has agreed to pay $425 million to settle claims brought by Wolf Popper LLP on behalf of Capital One 360 Savings accountholders. In granting preliminary approval of the settlement, Judge Novak noted that this settlement "affords significant relief" for class members, especially in light of the "risks in continuing to litigate this case through trial," due to "the unique and challenging issues in this case." A Court-approved notice will be sent to all identified class members by August 15, 2025. For more information about the settlement, including important deadlines, please review the long-form notice and other documents and information available at www.CapitalOne360SavingsAccountLitigation.com.