Capital One backlash over hated tactic that cost customers $2 billion

Capital One has been accused of 'cheating' customers out of $2 billion in interest payments on savings accounts.

The bank, which is among the largest in the US, was sued on Tuesday by the Consumer Financial Protection Bureau (CFPB).

The watchdog said Capital One promised customers that their popular 360 Savings account provided one of the 'top' and 'highest' interest rates, but then froze their rate at a lowly 0.30 percent in line with the 's benchmark rate.

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