Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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

If you had a savings account at Capital One between 2019 and mid-2024, you may have been misled into accepting a lower return on your deposits than the marketing suggested, according to a lawsuit filed Tuesday by the government's consumer watchdog agency.

The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.

Capital One faces a lawsuit for deceiving consumers on savings account rates, causing $2B in potential losses.

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.

Earn 2 miles per dollar spent on most purchases, and receive a slew of travel-related perks, including airport lounge access.

People with fair credit can earn 1.5% cash back on every purchase. That's the same rewards rate that the issuer offers to those with excellent credit, although this card has a fee. If you put more ...

The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change.

Investors received good news with lower inflation rates and potential deregulation, making bank stocks like GS, BK, C, and WFC attractive for 2025.

A new lawsuit alleging that Capital One cheated savers out of larger yields is a wake-up call for people who want to wise up and get the most out of their deposits, experts say.