Capital One $425M Settlement: When Louisiana Customers Get Paid

(LOUISIANA) - Louisiana Capital One customers with a 360 Savings account may finally be seeing money hitting their bank accounts soon.

What Was the Capital One 360 Savings Lawsuit About?

You may recall in May 2025 when a bipartisan group of 18 U.S. states (including Louisiana) led a class-action lawsuit against Capital One claiming it froze rates at 0.3% on its "high interest" 360 Savings accounts, while quietly offering rates above 4% to new customers on similarly named 360 Performance Savings accounts.

“Capital One assured high returns with no catches, then pulled the rug out from under their customers and hoped nobody would notice,” New York Attorney General Letitia James said when announcing the lawsuit last May.

A $425 million settlement was made in the case, and after court and administrative fees, the remaining funds are being divided among the settlement class.

Who Qualifies for the Capital One Settlement Payment?

Anyone who held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, qualifies for settlement money. Customers with eligible accounts did not need to file a claim to receive a payment. Eligible customers did not need to file a claim, but were required to select a payment method by March 30, 2026.

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How Will You Receive Your Settlement Payment?

Settlement administrators said that eligible customers, by default, would receive a paper check for their share of the settlement fund. However, if payment amounts are less than $5, no check will be issued. Customers who chose to receive an electronic payment will get all the funds they are entitled to, no matter the amount.