The government’s consumer watchdog on Tuesday sued Capital One for alleging “cheating” customers out of billions in interest payments. The Consumer Financial Protection Bureau (CFPB) accused the banking giant of freezing interest rates for its 360 Savings account at low levels as rates rose, despite promising the nation’s “best” and “highest” interest rates. In 2019, Capital One created a separate “360 Performance Savings” account that paid significantly more interest than the 360 Savings. But...
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