The Capital One Financial Corporation has agreed to a settlement of $425 million to resolve the class action lawsuit filed at the US District Court for the Eastern District of Virginia with the case number 1:24-md-03111-DJN.
If you have a 360 savings account with COFC, you can get a portion from the settlement fund. In September 2019, the corporation introduced 360 performance saving accounts with higher interest rates than the existing ones.
The COFC never increased the interest rate for 360 savings accounts. In July 2023, the company sued for doing so, and after the months-long legal battle, the corporation agreed to a settlement without accepting any wrongdoing.
| Settlement | $425 million |
| Court | US District Court, Eastern District of Virginia |
| Eligible Account | 360 Savings Account |
| Eligible Period | Sept 18, 2019 – June 16, 2025 |
| Who Can Get | US residents with the account and notice email |
| Payout Amount | Different for each person; more if account stayed open |
| How to Claim | Fill election form online with Unique ID and PIN |
| Deadline | Oct 2, 2025; payment after final approval |
Who is eligible to get a payout?
The case has already received the preliminary approval on August 15, 2025, and now each individual who meets the eligibility criteria is all set to get the payout.
- You must be a permanent resident of the United States and reside in any territory of the country, and
- You have a 360 savings account with Capital One Financial Corporation between September 18, 2019, and June 16, 2025.
Additionally, you must have received a notice from the settlement administrator in your email—via email—on which you will find a unique ID and PIN.
How much will I get?
The total settlement fund is $425 million; note that out of which $300 million is for all the individuals who had a 360 savings account during the certain period, and the $125 million is also for the account holder as an additional interest rate payment—but for those who keep their account open.
Note that the payout amount for each account holder is going to be different from one another; some get payouts in single digits, and for someone it may be in hundreds. If you have kept your COFC 360 savings account activated during a certain period, you may get a big amount.
What to do to get the payment?
To get the payment from the $425 million Capital One Financial Corporation settlement, there is no provision for filling out the claim form. But each individual who has received a notice from the settlement administrator is required to submit an election form.
Note that the election is about opting for the method to get the payment. If you want to get it online, you need to set the payment for direct deposit, and if you are interested in getting the payout via paper check, you are required to provide the mail address.
How to fill the election form?
To fill an election form, i.e., choose the payment for the $425 million COFC settlement payout, please follow the instructions given below.
- Go to the $425 million COFC settlement portal accessible online at capitalone360savingsaccountlitigation.com/.
- On the homepage you will see an option that reads ‘Payment Selection/Update Address’; click on it.
- Here, you will be asked to enter your Unique ID and PIN, fill in the required details accurately, and click on the Login button.
- After the successful login, select the payment method, provide the required details, and click the submit button.
Note that the deadline for choosing the payment method is October 2, 2025; if you don’t do so by the deadline, you won’t get the payment—even though you are eligible.
What’s next after the election form submission?
After the submission of the election form, the settlement administrator will verify the payment details for the payout. Note that the payout will begin after the final approval; the hearing for the same is scheduled to take place on November 6, 2025, at 11:00 a.m. as per Eastern Daylight Time.
If the final approval is given to the settlement, the settlement administrator will send out the payment via the opted payment method within 90 days. Note that if there will be any appeals after the final approval, the payment will be delayed until the appeals are resolved.
Disclaimer: Information on the $425M Capital One settlement payout is for awareness only. Final eligibility, payment amounts, and deadlines are determined by official settlement administrators.
How do you the money of capital one
How do you the money of capital one
How do I get a pin to apply for the Capital One savings account?
I have invested money consistently to the 360 performance saving accounts. I have now moved my monies to CD accounts.
How do I apply to be a part of this class action suite?
Barbara Miner
I have invested money consistently to the 360 performance saving accounts. I have now moved my monies to CD accounts.
How do I apply to be a part of this class action suite?
Barbara Miner
I have a Capital One 360 savings account .
I haven’t received a letter from this company.
I was scrolling on Google and came across this Capital One settlement claims.
How can I sign up for a check to be deposited? Thank you
Do you use your pin and ID to claim settlement.
Do you use your pin and ID to claim settlement.
How do I see if I am able to receive payment???
How do I see if I am able to receive payment???