New Delhi, Oct. 2 -- The deadline to claim part of the $425 million settlement that Capital One is doing today is Thursday, October 2. The bank is settling a class action lawsuit brought against its holding company by customers in 2024 for freezing its savings accounts interest rates for several years.

As a result of the freeze, customers of Capital One lost billions in interest rate payments, which they now have a chance to claim. However, the settlement awaits court approval, which is set to hear the case on November 6.

The $425 million Capital One settlement arises from a class action lawsuit filed in the US federal court in Virginia, according to USA Today. The Consumer Financial Protection Bureau (CFPB) had also sued the company ea...