Financial regulators on Tuesday accused Capital One of “cheating” millions of customers of more than $2 billion in interest by freezing the rate on their accounts even as rates soared nationwide. The Consumer Financial Protection Bureau alleges ...

Capital One is being sued by the US government’s consumer watchdog agency for “cheating millions of consumers” and not paying more than $2 billion in interest to holders of its high-interest savings accounts.

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.

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.

Capital One is probably best known for its pithy commercials featuring Jennifer Garner asking, "What's in your wallet."  Unfortunately, the Consumer Financial

The Consumer Financial Protection Bureau alleged the bank misled some of its customers by not paying them the rate it advertises on its main savings account.

Capital One was sued on Tuesday by the U.S. Consumer Financial Protection Bureau, which accused the bank of illegally avoiding the payment of more than $2 billion in interest to consumers who held its flagship "high interest" savings account.

The government’s consumer watchdog on Tuesday sued Capital One for alleging “cheating” customers out of billions in interest payments. The Consumer Financial Protection Bureau (CFPB) accused the