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.

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.

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.

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.

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

Capital One has been down for more than 24 hours. Customers have said they cannot buy groceries, pay rent or other bills.

Analyzing the recent performance of BDC sector in 2024 and the positive outlook for 2025 with valuable insights for investors.

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 ...

Similarly, in 2025, it seems there's just one key catalyst that will shape many institutional investors' strategies and outlook: More than 7 in 10, or 72%, of institutional investors say central bank policy will influence their investment decisions this year, according to the 2025 Natixis Institutional Outlook Survey.

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