US-based bank Capital One is facing legal proceedings from the US Consumer Financial Protection Bureau (CFPB) for ‘cheating’ consumers of more than $2bn in interest payments on savings accounts.

A U.S. watchdog is suing Capital One for allegedly misleading consumers ... At the same time, the CFPB adds, the bank created "360 Performance Savings," which saw a much higher rate of growth.

Capital One customers have been unable to access their direct debits, leaving them unsure how they will be able to pay their bills and other essential expenses.

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

Capital One Sued by US Watchdog Alleging Bank Cheated Customers Out of $2 Billion NEW YORK (AP) — A U.S. watchdog is suing Capital One for allegedly misleading consumers about its offerings for ...

NEW YORK — A U.S. watchdog is suing Capital One for allegedly misleading consumers ... At the same time, the CFPB adds, the bank created "360 Performance Savings," which saw a much higher ...