The Consumer Financial Protection Bureau (CFPB) is suing Capital One, alleging the bank illegally misled customers by not notifying them of account options that paid higher interest rates.The federal government's consumer watchdog claims Capital One's practices meant millions of customers missed out on a collective $2 billion they could have made in interest payments.

The CFPB is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts.

Federal regulators said in a lawsuit on Tuesday that the giant bank deliberately underpaid savings account interest, even as rates rose.

The Consumer Financial Protection Bureau accused the bank of “cheating” customers out of more than $2 billion by misleading them about interest rates.

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

The Consumer Financial Protection Bureau is suing Capital One, which it says kept customers in the dark about higher-yielding savings accounts.

Third-party vendor FIS blamed a local power loss and hardware failure for the issue, which Bank of Oklahoma said affected more than two dozen financial institutions.

Capital One had a major service outage last week that left many without access to their accounts. Now, it also faces a lawsuit from CFPB.

Capital One was sued on Tuesday by the US Consumer Financial Protection Bureau, which accused the bank of illegally cheating customers who held its flagship “high interest” savings account out ...

Capital One is defending itself from the CFPB's claims that it cheated customers out of billions of dollars in interest payments.

Capital One Financial Corp. misled customers when it rolled out a new savings account with a higher interest rate it didn’t also give to existing savings accounts, the Consumer Financial Protection Bureau said Tuesday in a lawsuit against the bank.