The bank experienced a “technical issue” with a third-party vendor this week, impacting some account services like deposits and payment processing.
Capital One is under fire for offering paltry savings account rates to current customers. Here’s what you need to know.
The government’s consumer watchdog sued Capital One on Tuesday for “cheating” customers out of billions in interest payments. The Consumer Financial Protection Bureau (CFPB) accused the banking
It's been a tough week for Capital One, with a lawsuit and system outage hitting back-to-back as other big US banks enjoy positive headlines around stellar fourth-quarter earnings. On Tuesday, the Consumer Financial Protection Bureau sued the bank,
"Guess I'll be eating ramen again tonight," tweets one customer on third day of issues linked to a data-center power outage.
The Consumer Financial Protection Bureau is suing Capital One, which it says kept customers in the dark about higher-yielding savings accounts.
Capital One customers faced outages that have prevented some from accessing direct deposits, paying bills and more.
FOX Business reached out to Capital One for comment. It’s the latest blow to the financial institution, which is being sued by the Consumer Financial Protection Bureau (CFPB) for allegedly misleading customers by not notifying them of account options that paid higher interest rates.
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At a 0.5% APY, which Capital One offers on the original 360 Savings accounts, it produces even less. Some megabanks can offer savings accounts with rates as low as 0.01% or 0.02%, according to Bankrate. A mere 0.01% APY on $500 pays a nickel of interest.
Some Capital One users were still waiting to receive deposits and payments on Friday morning after the company experienced a processing disruption.