Reported 25 days ago
Capital One has disclosed that it may face enforcement action from the Consumer Financial Protection Bureau (CFPB) regarding alleged misrepresentations related to its savings accounts. This comes after customers filed a lawsuit claiming the bank did not clearly communicate the differences in interest rates between their '360 Performance Savings' and '360 Savings' accounts. The CFPB is reviewing the situation as Capital One awaits regulatory approvals for its $35.3 billion acquisition of Discover Financial Services.
Source: YAHOO