Capital One 360 Savings Account Interest Rate

This docket consolidates consumer class actions alleging that a national bank misled customers holding a widely marketed online savings account into believing they were earning a competitive interest rate, while the bank simultaneously offered an identically branded, higher-yield account to new customers without adequately informing existing accountholders they could switch to capture the better rate. Centralized in the Eastern District of Virginia in 2024, the docket has narrowed to 1 pending action following a court-approved class settlement, though the settlement's finality was disrupted in mid-2026 when an objecting class member filed a notice of appeal seeking to unwind the approved settlement and return the matter to litigation.

For a funder, this is a consumer class action that had reached a negotiated resolution, supported by the class and by state attorneys general who had previously objected to an earlier settlement version, only to face a subsequent appellate challenge that could delay any payout by a year or more and, if successful, reopen the underlying litigation entirely. That appeal is now the single dominant variable in this docket's remaining timeline and outcome.

Given the settlement's current appellate posture, any capital conversation here would center on firm-level litigation cost financing tied to defending the settlement on appeal or, if the appeal succeeds, resuming merits litigation, priced with real weight given to the meaningful delay and reopening risk the appeal presents. Criterica Capital's commercial litigation finance line could apply as this appeal resolves. A structure and litigation brief tracking the appellate posture is available for firms with an interest in this matter.

Pre-settlement funding is a non-recourse purchase of a portion of the proceeds of a pending legal claim — not a loan. If the case does not result in a recovery, nothing is owed. Rates, fees, and repayment terms are disclosed in full in the funding agreement, which the applicant’s attorney reviews before signing. Availability and terms vary by state.