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.
FIS Global, the Capital One service provider involved, said it has "restored access" and processing should be done Friday.
An outage affecting Capital One customers dragged into its second day Friday, further preventing some customers from accessing deposits, payments and transfers. In an afternoon statement, the bank said it was still restoring systems that had been taken offline due to a technical issue with a third-party vendor.
A “technical issue” of a third-party vendor that Capital One uses is affecting some of the bank’s customers to access deposits and other services.
Capital One users were reporting issues with receiving their deposits on Thursday morning, leaving many customers wondering where their money and paychecks are. Complaints on social media were pouring in via the @AskCapitalOne customer service account on X, formerly Twitter.
The U.S. Consumer Financial Protection Bureau is suing Capital One, claiming the company cheated customers out of $2 billion by misleading them.
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.
The Consumer Financial Protection Bureau has filed suit against Capital One for allegedly misleading customers about its high-interest savings accounts.
Capital One released the following statement on Saturday, January 18, regarding the ongoing outage: “We have made substantial progress in resolving our third-party vendor issue with FIS. We have restored full account functionality and processed outstanding transactions for most of our customers,
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