The proposed $425 million settlement covered current and former Capital One 360 Savings accountholders. Payments were automatic and no claim form was required; the deadline to choose electronic payment passed on March 30, 2026. The court has not yet granted final approval.
Benefit Summary
Eligible class members: available benefits include Pro rata Class Cash Payment, Same interest rate going forward.
Payments come from the $425,000,000 settlement fund and may change after approved deductions.
Available Awards
Pro rata Class Cash Payment
Who Is Included
The Settlement Class includes persons or entities that maintained a Capital One 360 Savings account at any time from September 18, 2019, through June 16, 2025, including joint and co-holders shown on Capital One’s Class List. Specified Capital One-related persons and entities, specified judicial personnel and families, and timely valid opt-outs are excluded.
- Products included: Capital One 360 Savings accounts
- Proof required: No claim form or loss documentation is required for the Class Cash Payment. Eligibility is based on Capital One’s Class List. Cash payments are issued only to the primary accountholder listed on each covered account.
Claim and Payment Information
- Claim method: Automatic payment; optional electronic payment selection through the Settlement Website
- Instructions: No claim form is required for the Class Cash Payment. You may select electronic payment through the Settlement Website if you want payment electronically instead of by check.
Questions & Answers
How much will my cash payment be, and could there be another payment later?
- The notice does not give a dollar estimate for any individual payment. It will depend on the additional interest calculated for each covered account, the deductions from the fund, opt-outs, and whether there are unclaimed funds after the first distribution.
- If money from uncashed or undeliverable payments remains, it may be sent out again proportionally if that can be done cost-effectively. Otherwise, it may go to a court-approved charity.
When should I choose electronic payment, and what if I chose it before?
- Choose electronic payment by March 30, 2026 if you want that method.
- If a prior electronic-payment choice was made for the earlier proposed settlement, it carries over. A new choice is needed only to update that payment information.
- Electronic payment is especially important for a payment below $5. Those smaller payments are not sent by check.
When does the future interest-rate benefit start, and how long does it last?
- The future matching interest rate begins no later than 14 days after the settlement becomes effective, not simply after the hearing date.
- The notice says the matching-rate obligation has no time limit. It also says Capital One will keep both account types for two years after the Effective Date.
What happens if my covered account had joint or co-holders?
- A cash payment for a joint account is issued only to the primary accountholder.
- For exclusion requests, all holders of the same account are treated as one. A valid request by any one holder excludes every holder of that account from the settlement.
What must I do if I want to leave the settlement?
- Leaving the settlement means no settlement payment and no right to object, but preserves the option to bring a separate lawsuit about the released claims at the person's own cost.
- The written request must be mailed to the Settlement Administrator and postmarked by March 30, 2026. It must identify the case, provide contact details, include the person's own signature, clearly say they want exclusion, and say the request applies only to that signer.
- Someone who opted out of the earlier proposed settlement must submit another exclusion request for this proposed settlement.
What rights do I give up if I stay in the settlement?
- A person who stays in the settlement gives up the ability to bring or continue separate claims against Capital One concerning the interest paid on their 360 Savings account and related claims covered by the release, once the settlement becomes final.
- The notice points to paragraph 16.1 of the Settlement Agreement for the full legal description of the released claims.
How do I object, and can I still receive a payment if I object?
- A written objection must be filed with the court by March 30, 2026; mailing it by that date is not enough because the notice says the court must receive it by the deadline.
- The objection must identify the case, provide the required contact information, state who it covers and the reasons for it, and say whether the objector plans to attend the hearing. Extra evidence and exhibit details are required if a represented objector's lawyer plans to speak at the hearing.
- Objecting does not prevent a person from receiving benefits if the court approves the settlement.
Has the settlement been approved, and when is the approval hearing?
- The court is scheduled to consider approval on April 20, 2026, at 11:00 a.m. in Courtroom 601 of the Albert V. Bryan United States Courthouse in Alexandria, Virginia.
- The hearing date or time may change. The notice does not say that approval has already occurred, and the settlement benefits depend on the settlement becoming effective.
Other Important Dates
- Exclusion deadline: 2026-03-30
- Objection deadline: 2026-03-30
- Final approval hearing: April 20, 2026, at 11:00 a.m.
- Hearing location: Courtroom 601, United States District Court, Eastern District of Virginia, Albert V. Bryan United States Courthouse, 401 Courthouse Square, Alexandria, VA 22314
Case Details
- Total settlement fund: $425,000,000
- Case name: In re: Capital One 360 Savings Account Interest Rate Litigation
- Case number: 1:24-md-03111-DJN
- Court: United States District Court for the Eastern District of Virginia
- Administrator: Settlement Administrator
- Official Settlement Website: https://www.CapitalOne360SavingsAccountLitigation.com
Sources
Official Settlement Website
Claim form, FAQ, deadlines, administrator information
Visit Site →Claim form, FAQ, deadlines, administrator information
Official Settlement Notice (PDF)
Court-approved notice describing eligibility and benefits
Open PDF →Court-approved notice describing eligibility and benefits