Capital One Discloses CFPB Investigation of Savings Account Products
COFCapital One(COF) PYMNTS.com·2024-11-02 06:42

Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with a higher interest rate than its existing savings account products.The regulator sent the bank a Civil Investigative Demand in August after Capital One was sued in a class action lawsuit relating to those savings account products in July 2023, the bank said in a filing with the Securities and Exchange Commission ( ...